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Do you know what is done with the money from these fines? Does it merely fund the enforcement teams (seems excessive), or is it put into some EU “general fund”?
by TedDoesntTalk 6y ago
Do you know what is done with the money from these fines? Does it merely fund the enforcement teams (seems excessive), or is it put into some EU “general fund”?
- gampleman 6y agoFB has a global revenue of ~$86B. Of which 4% is $3.44B. That would make a real mark on the budgets of the poorer half of EU countries. I wonder why there aren't more enforcement actions...
- varispeed 6y agoIt's a simple math - how many people are responsible for processing such case? 10-100? So let's say it is 100 people. You only need like 100,000,000 EUR to make it go away by giving each one a 1M. Even if those people go for early retirement and new staff takes on the case, you can repeat this. Even if it happens every year you can do it for 34 years before the money exceeds the potential fine and meanwhile you'll make much more money as it gets pushed back. In reality you probably need to buy top 5-10 people so they can keep pushing it back while being set for life.
- judge2020 6y agoThis doesn't answer the question "does the money just sit in an escrow account forever or is it eventually spent somehow?"
- zaarn 6y agoGenerally they go into the coffers of the treasury of the country that issued the fine. This may be further directed to the EU but probably not.
- dgellow 6y agoThat's an interesting question. I do not know the answer.