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Think it's actually 4%. Seriously huge fines
by kevsim 9y ago
Think it's actually 4%. Seriously huge fines
- cobbzilla 9y agoJust wait to see how the lawyers game these. my bet is no major corp ever pays a penalty that high, ever. there may be some egregious offender that gets caught with this, but not one of the big boys.
- ddalex 9y agoIf I'm in debt to somebody 10.000, he owns me. If I'm in debt 10.000.000, I own him. Huge fines for behemoths will always be negotiated. Nevertheless, it's a strong incentive for even the biggest companies to follow the law. EU has the capability and desire to enforce huge fines to make sure data protection laws are obeyed.
- dx034 9y agoFines in antitrust cases can already be huge so I would doubt that those fines could be gamed if regulators take it seriously. The alternative to paying a fine is being banned from the market, which for the EU is a big deal.
- ddalex 9y agoIf I'm in debt to somebody 10.000, he owns me. If I'm in debt 10.000.000, I own him. Huge fines for behemoths will always be negotiated. Nevertheless, it's a strong incentive for even the biggest companies to follow the law. EU has the capability and desire to enforce huge fines to make sure data protection laws are obeyed.
- Freak_NL 9y agoThey actually do get fined huge sums, and they do pay up. To them it is just the cost of doing business. Facebook getting fined for privacy violations: http://www.bbc.com/news/business-39958630 http://www.bbc.com/news/business-39958630
- rama_dan 9y ago> Think it's actually 4%. Seriously huge fines And we'd all be delighted with taxes as low as 15%!