Easy introduction to GDPR - Lesson 11
When GDPR came into force, everybody talked about fines; the reason for it is because they’re high. So let’s look into how high they can be. And uncover the full spectrum of consequences GDPR related fines lead to.
So when GDPR came into force, everybody was talking about fines; the reason for it is because they're high. It is up to 4% of the annual turnover or 20 million euros. It's a pretty big impact on all businesses. But "fines" in the GDPR is not the only thing you should be thinking about. I think even more importantly, it's also the consequences of people losing faith in you and your company. It is regulatory investigations into your business about how you're processing data. It is bad PR, and it's also potentially lawsuits and sanctions. So the fines are big, no doubt about it. But there are other consequences to be mindful of as well.
