On 5/26/2018 2:36 PM, Michel 'ic' Luczak wrote:
Original text from EU Commission:
"Infringements of the following provisions shall, in accordance with paragraph
2, be subject to administrative fines up to 10 000 000 EUR, or in the case of an
undertaking, up to 2 % of the total worldwide annual turnover of the preceding
financial year, whichever is higher”
-> Administrative fines_up to_ 10M (or 2% if your 2% is higher than 10M).
It’s a cap, not a minimum.
Thanks for the clarification. But whether that fine will be less than
10M is extremely vague and (I guess?) left up to the opinions or whims
of a Euro bureaucrat or judge panel, or something like that... based on
very vague and subjective criteria. I've searched and nobody can seem to
find any more specifics or assurances. Therefore, there is NOTHING that
a very small business with a very small data breach or mistake, could
point to... to give them confidence than their fine will be any less
than 10M Euros, other than that "up to" wording - that is in the same
sentence where it also clarifies "whichever is larger".
All these people in this discussion who are expressing opinions that
penalties in such situations won't be nearly so bad - are expressing
what may very with be "wishful thinking" that isn't rooted in reality.
--
Rob McEwen
https://www.invaluement.com
