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TikTok controversy ushers in new age of cyber threats
The following is an editorial by Alicja Grzadkowska, senior news editor at Insurance Business.
Forget the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) - the latest battle over privacy risks that the insurance industry should be paying attention to is the one that has pitted a world leader against an immensely popular social media app.
For weeks now, the hundreds of millions of people using TikTok outside of its home base of China have been watching as the fate of the app in the US and other countries is being determined. The US government's main beef with the app, and why it's moving to ban it, has centred on TikTok's ownership by a Chinese firm, which government lawyers have argued represents an immediate danger to national security. The app's parent company ByteDance is based in Beijing, and the Trump administration has claimed that the app's American user data risks ending up in the hands of the Chinese government - a claim that TikTok has denied.
Continue reading rest of editorial here