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That's still pocket change for Facebook. In order to have any deterrence effect, any fine should probably be at least 20 times higher. Otherwise, it is almost
by qalmakka 5y ago
That's still pocket change for Facebook.
In order to have any deterrence effect, any fine should probably be at least 20 times higher. Otherwise, it is almost always better for those large companies to violate the law, reap profits, pay the fine and benefit from their disregard of the law.
- disgruntledphd2 5y agoThe maximum fine which could have been imposed was 3.2bn dollars, due to FB's 2020 revenue. This is a first fine, and note that the original article states that both FB and Instagram are under investigation also, so it could easily be 3x this current fine, which is not insignificant, even for Facebook.
- xxs 5y agothis is a GDPR related fine. It will get a lot worse if the noncompliance doesn't get addressed.
- deleted 5y ago[deleted]
- piva00 5y agoI agree that the fine needs to be higher to work as a scary deterrent but getting 1% of your profits taken away from a single fine is pretty substantial for any company.