this post was submitted on 24 Jan 2024
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[–] rockSlayer@lemmy.world 23 points 7 months ago (1 children)

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 12 points 7 months ago (1 children)

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 2 points 7 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.