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I was referring to the maximum fine. It is 4% of global revenues, or 20M EUR, whichever is greater. So the maximum fine would wipe out any business that doesn’
by downandout 7y ago
I was referring to the maximum fine. It is 4% of global revenues, or 20M EUR, whichever is greater. So the maximum fine would wipe out any business that doesn’t happen to have 20M EUR lying around - that might be 1000% of what they have, but the damage to a large business is capped at 4% of their revenue regardless of how egregious the behavior. That kind of a fine structure has only one possible purpose: it was specifically designed to be able to decimate small businesses while being a minor speed bump for any large business. The ultimate effect is the consolidation of power into the hands of handful of large companies.
- isostatic 7y agoNormal fines are “up to x million” The GDPR fine is specially done some large multinationals can’t ignore it.
- deleted 7y ago[deleted]