Within the letter, the FTC warned that data collection for marketing and advertising purposes could be a violation subject to a fine. The agency warned that penalties of up tocould accrue if they misuse personal data in ways that run counter to the purpose for which this information was collected.
I can confidently say that more of these types of letters are coming to industries that manage lots of personal information or find themselves in regulated industries. The United States has taken a state-level approach to privacy thus far, but these actions from federal organizations are starting to show what the future may look like.If you are a tax preparation company, what can you do to prepare and avoid hefty penalties? Here are some quick tips.
• Pretend GDPR is active in the U.S. and operate from that perspective, ignoring the state-level approach to ensure you are ready for the future. It's always best, in my opinion, to stretch beyond the existing regulations because what you're seeing now is just the start. It will advance quickly and already has this year.