• rockSlayer@lemmy.world
    link
    fedilink
    English
    arrow-up
    23
    ·
    10 months ago

    I’ve always advocated for fines to be assessed as a percentage of global annual revenue.

    “Oh, your global revenue was $100B? That will be $1b please.”

    • TheMurphy@lemmy.world
      link
      fedilink
      English
      arrow-up
      12
      ·
      10 months ago

      EU takes 10% of the profits if rules like GDPR and other Digital acts are breached.

      But only at the first offence. The second time they take 20%.

      • Womble@lemmy.world
        link
        fedilink
        English
        arrow-up
        2
        arrow-down
        1
        ·
        10 months ago

        its €10M or 2% turnover whichever is higher, doubling for more sever infringements. Fining based on turnover is the way to go as it eliminates wriggling out of fines and makes them hurt.