Privacy fines are financial penalties imposed by regulators on companies that fail to comply with data protection laws. They are often the result of a company being caught misusing customer data, such as selling personal information without consent or not properly protecting sensitive information.
The GDPR sets out specific rules for how companies must handle and protect personal data. If they fail to comply with these rules, they can be fined up to 4% of annual global turnover or €20 million (whichever is greater).
What Happens if You Get Caught Breaking Data Protection Laws?
If you're caught breaking data protection laws, you could face a fine under the GDPR. However, this isn't the only consequence for failing to comply with GDPR regulations.
You could also be sued by an individual whose privacy has been violated, which could lead to even higher legal costs than the fine itself. In fact, some people have already taken Facebook to court over its use of facial recognition technology and its failure to keep user information secure.