Europe's new General Data Protection Regulation is having its first big test, since the privacy law went into effect across the European Union's 28 member states in May. The regulation affects companies with a digital presence in the EU, such as Facebook. It requires more openness about what data companies have, and who they share it with. But does the regulation have the right tools to really stand up to tech giants and protect privacy? Mariam Zaidi has more from Brussels.

Hacks, leaks, fake news and the misuse of personal data. The Cambridge Analytica- Facebook data scandal, threw the spotlight on the misuse of personal data.

Facebook was fined $645,000 for their part in the UK data breach but the EU's new General Data Protection Regulation that came into force in May is setting a new global benchmark in the fight for online security.

Companies found breaking the law can be fined up to four percent of their annual revenue. In addition, firms are expected to disclose data breaches to users within 72 hours.

But EU lawmakers want to go even further and are calling for Facebook to submit itself to an independent audit.  

SOPHIA IN'T VELD DUTCH LIBERAL MEP "GDPR is the best privacy law in the world but if it's not being properly implemented then it's useless. We should be looking at the means that the data protection authorities have to tackle the challenges on the table. For example, the Dutch Data Protection agency has about 150 staff, they cannot fight Facebook, they don't have the same means."

Despite unveiling new rules for political ads in the UK this month, Facebook is facing another data breach affecting at least 50 million users and will be investigated by Ireland's data watchdog. The company could face fines of up to $1.63 billion dollars.

EVA JOLY FRENCH GREEN MEP "It's time to take back the control of our data, to take back the control of our lives. Open your eyes, it's obvious that if we accept the exploitation of our data for the purpose of profiling or political targeting, that will not be an individual defeat but a collective disaster."

The EU Commission is also rallying online companies to block fake news threats in the run-up to next year's European Parliament elections in May. The EU Commission also wants member states to set up both national and European election cooperation networks.

JULIAN KING EU COMMISSIONER FOR THE SECURITY UNION "To tackle the classic cyber security threats, the Commission brought forward a package of measures in September last year, to build greater cyber resilience, to protect systems and data and to have deterrents against those that would seek to attack us. To tackle the challenge of cyber manipulation, the Commission proposed a package of measures to tackling online disinformation's."

MARIAM ZAIDIBRUSSELS "GDPR it seems is a starting point for the EU in the fight for online security. The European Parliament is also calling for offline electoral safeguards such as limits on online spending, banning electoral profiling, and for content shared by BOTS to be labelled. Mariam Zaidi, CGTN Brussels."