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this post was submitted on 16 Jan 2024
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I'm pretty sure the EU GDPR requires explicit & clear consent for data collection.
That's up to a £17.5m fine or 4% of your annual turnover, whichever is higher
4% of turnover is massive. Take BMW as an example, 4% of their revenue is 5.7Billion dollars, compared to their net profit of 18.6Billion. One third of their entire profit is absolutely enough to make them do everything they can to avoid it. Also, importantly, they cant get up to creative accounting to minimise revenue, misrepresenting that is fraud, unlike profit when companies get up to all sorts of tricks to artificiality lower it.
Honestly BMW comes out quite well in the scenario compared to many of their competitors. I looked up Citroen, Fiat, Ford & GM and they all were in the range of 60-90% of their profit getting wiped out by a GDPR 4% fine.
I was kinda hoping to find one over 100% profit, but I decided not to spend the rest of my evening looking up annual financials for car manufactures
Its not even borderline ridiculous. The fines are so low they just incorporate them into operating costs. Jail the entire executive suit and board if a company does this shit, no bail.
I highlighted turnover deliberately. 4% of any company's turnover is absolutely not something that can be rolled into BAU running costs.
Not least of all, if a company doesn't fix the violations, they'll come for it again with a fresh 4% fine.
Edit: typo
I see no reason to cap fines to anything less than 100% of gross revenue. An egregious enough violation should kill the company (which has no inherent right to exist, BTW -- being granted a corporate charter is a privilege), even if it's the first one.