6 ms·
Is the fine a "EU fine" or a "Netherlands fine"? I'd expect the fine to be proportional to the territory issuing it, not to the total global value of the compan
by franciscop 6y ago
Is the fine a "EU fine" or a "Netherlands fine"? I'd expect the fine to be proportional to the territory issuing it, not to the total global value of the company. You would not expect this fine to be e.g. 10% of the company global valuation, and then when other 9 countries issue a similar fine and destroy the company.
Netherlands being 1% of the global GDP, this would be proportional to a $50B "global fine" or 50% of the company valuation. So in that sense, it even seems too big.
EU being 20% of the global GDP, this would be proportional to a $2.5B "global fine" or 2.5%, which IMHO seems small-to-fair for a data leak of this type.
- Hamuko 6y agoGDPR maximum fines are dictated by global revenue. >Infringements of the following provisions shall, in accordance with paragraph 2, be subject to administrative fines up to 20 000 000 EUR, or in the case of an undertaking, up to 4 % of the total worldwide annual turnover of the preceding financial year, whichever is higher:
- lorenzhs 6y agoYour numbers are off by 3 orders of magnitude, the fine is just under half a million, not half a billion.
- Aeolun 6y agoThe problem being, if you fine them 500M for a crime they reported, the next time they won’t report anything.