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€20M is the fine that would be imposed if they determine you are negligent not what the op is saying is the revenue of their startup. The way the sanctions app
by throwaway2016a 8y ago
€20M is the fine that would be imposed if they determine you are negligent not what the op is saying is the revenue of their startup.
The way the sanctions appear to be define is they are 4% or €20M whichever is HIGHER. Which mean you could be potentially liable for €20 even if you only have a fee thousand dollars in revenue.
Now it is yet to be seen who if any they would impose that penalty on but I agree with op it does seem like a very real possibility getting hit with the fine could be devastating. I can see why it could have a chilling effect on startups.
- ryanlol 8y ago>not what the op is saying is the revenue of their startup It seems like OP is suggesting that their side projects revenue would be far higher than 20M, so he could qualify for such a fine. >Now it is yet to be seen who if any they would impose that penalty on but I agree with op it does seem like a very real possibility getting hit with the fine could be devastating Why do you expect the GDPR to be so vastly different from other European regulations?
- DanBC 8y agoWe have decades of experience of EU regulation. Please can you link to any cases given the highest fines? The UK's ICO has never imposed the highest fine. The closest the got was imposing £400,000 on TalkTalk. Talktalk's situation was that they'd done nothing to protect user data, and hackers stole over 150,000 people's information. And 15,000 of those included bank details. If your side project exposes 15,000 bank details you need to look after that data. https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2016/10/talktalk-gets-record-400-000-fine-for-failing-to-prevent-october-2015-attack/ https://ico.org.uk/about-the-ico/news-and-events/news-and-bl...