Priviso Live Episode 62: Black Friday
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About this listen
Europe's digital privacy protections face their biggest challenge yet. The EU's new Digital Omnibus package proposes sweeping changes to GDPR, potentially flipping cookie consent from opt-in to opt-out and allowing AI training on personal data without explicit permission. While Brussels promises €5 billion in savings for businesses, privacy advocates warn of a "major rollback" that could dismantle fundamental digital rights. For South African companies operating in European markets, these changes could reshape compliance requirements entirely.
Closer to home, Pepkor Lifestyle brands including Incredible Connection and HiFi Corp are notifying customers of a breach affecting their SMS marketing provider. While "only" phone numbers were exposed, security experts warn this is exactly the kind of data criminals collate to build sophisticated phishing profiles—particularly dangerous as Black Friday approaches.
But the week's most explosive story involves artificial intelligence detecting what human analysts missed: potential accounting irregularities in Nvidia's stellar earnings report. Trading algorithms flagged a $4.8 billion gap between reported profits and actual cash generation within hours—faster than traditional analysts could even review the footnotes. The discovery has sparked broader questions about circular financing in the AI industry, with tech giants raising record debt levels while revenue increasingly depends on contracts with cash-strapped AI startups.
We'll also break down the Cloudflare outage that took down millions of websites, share essential Black Friday security tips to protect your financial data, and discuss Warren Buffett's surprising $4.9 billion bet on Google amid AI market turbulence.
Finally, we discuss the risks of Black Friday, and safeguards you can take.
Join Lyn, Stephen, and special guest Kay for an episode packed with regulatory shake-ups, security breaches, and the fascinating intersection of AI and financial fraud detection.