4 ms·
The fine will certainly hurt, it's not exactly a small fine you can just book as part of your coffee budget. But it's not going to sink the company. If they do
by zaarn 6y ago
The fine will certainly hurt, it's not exactly a small fine you can just book as part of your coffee budget. But it's not going to sink the company.
If they do it again the fine will certainly be higher and sting a lot more. Possibly sink them.
It's certainly a shot before the bow, close enough to do some damage to the ship but not sink it quite yet.
- jacquesm 6y agoThey don't want to sink the company. They want them to stop doing this, and send a message to other companies who are also doing things like this.
- zaarn 6y agoWell, no, if the company doesn't stop and doesn't seem to stop the fines can be high enough to sink a company and I don't doubt that if it comes to it, the agencies involved are ready to sink a company over data protection.
- jacquesm 6y agoTrust me on this: no company is going to take a 3% hit to their net profits after taxes as a happy event. The agencies are quite ready but it would take a pretty stupid management to step in front of that train willingly. Note that H&M was adamant that they would cease to collect this data (as they should be). The only case I know of where there was a multiple-repeat-offender the eventual fine was 250K for a violation involving a single individual (hospital employees in NL thought it was 'fun' to peek on the records of a minor celebrity).
- zaarn 6y agoA hit of 3% of their revenue on their profits. If your profit margin is 10% then that turns into a 30% profit hit and the board will be unhappy.