5 ms·
GDPR has sane penalties, that’s why it’s such a big deal. GDPR seems to put the EU in a better position for the US Market since it has better data laws so is mo
by johnnyfaehell 8y ago
GDPR has sane penalties, that’s why it’s such a big deal. GDPR seems to put the EU in a better position for the US Market since it has better data laws so is more attractive for US customers. The only downside is for companies not in the EU targeting the EU market, either follow the EU law or withdraw from that market. It basically puts the US in a worse position in my opinion.
- tomnipotent 8y ago$10MM minimum penalty is not sane.
- maxsilver 8y agoIt's very sane -- For a mistake as large as Equifax, a $10MM penalty is basically a slap on the wrist.
- mmaurizi 8y agoThe law states "up to 10,000,000 EUR" which is the opposite of minimum I'd say.
- s_dev 8y agoThe law does not state that. It states €10 million or 2% of gross worldwide revenue -- whichever is higher.
- zaarn 8y agoThose are still the maximum, the 10 million is still not the minimum. The EU could fine a corporation with 10 billion turnover 10$ but they also could fine up to 200 million $. It doesn't mean they have to fine atleast 10 million once you're over the 2% switchover.
- s_dev 8y agoYou're missing my point -- what you said the law says and what the laws says are different. You're maximum/minimum argument relates to the guy above your post. That additional option of a 2% figure changes the dynamic of how the fines work completely.
- johnnyfaehell 8y agoThe law says “up to” which is what they explained.
- M2Ys4U 8y agoIt's not a minimum penalty. There is no minimum penalty. It's part of the calculation for the _maximum_ penalty, which is max(€20m, 4% of global turnover)
- orf 8y agoAs many people have pointed out, what you have said is untrue. I'd actually read about the regulation before commenting on its sanity.