We can expect to see GDPR-related fines before the end of the year. This is according to EU's privacy regulator, Reuters reports. European Data Protection Supervisor Giovanni Buttarelli said that companies can not only expect fines, but also temporary bans, too.
“I expect first GDPR fines for some cases by the end of the year. Not necessarily fines but also decisions to admonish the controllers, to impose a preliminary ban, a temporary ban or to give them an ultimatum,” Buttarelli told Reuters in an interview.
“The fine is relevant for the company and important for the public opinion, for consumer trust. But from an administrative viewpoint, this is just one element of the global enforcement,” he added.
GDPR, or General Data Protection Regulation, is a relatively new regulation which came into force on May 25 this year. It regulates how businesses gather, store, share and secure personal information they have on EU citizens.
Fines for breaching GDPR can go up to €20 million, or 4 per cent global annual turnover, whichever sum is greater. After kicking in, the media were reporting on an increased number of complaints EU citizens filed to authorities, against various companies.
The New Year is just over two months away, so it won't be long before we know who the first 'victim' of GDPR will be.
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