How GDPR Fines Affect Your Business
The GDPR is a new data privacy law, and a fine for not complying with it can cost your business millions of euros. The biggest fines have been issued to companies that have failed to implement appropriate security measures and protect personal data. In the first year of GDPR, the fines were small, but the next two years saw much bigger fines in myflixerto.
The GDPR allows for fines of up to 20 million euros for specific data protection violations. These fines may be imposed in addition to other corrective powers, including an order to cease violation, temporary or definitive limitations on processing, or a ban on processing data. Furthermore, fines are applicable to processors directly, as well as to controllers in waptrickcom.
While a fine is usually large, it can also be small and come from a single incident. One example is an e-commerce company that got fined EUR16.7 million by the EU data protection authority for processing data about its customers without a legal basis in bolly2tollyblog. In this case, the company failed to provide its customers with an opt-out option and failed to take adequate steps to prevent their contact information from being made public.