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(Politico (Europe))   Amazon fined 0.2% of their 2020 sales for flouting EU privacy rules. That'll teach 'em   (politico.eu) divider line
    More: Misc, European Union, Luxembourg's data protection authority, Law, personal data, EU's privacy rules, Privacy, CNPD's decision, EU General Data Protection Regulation  
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218 clicks; posted to Business » on 30 Jul 2021 at 10:20 AM (42 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-07-30 10:37:45 AM  
6 votes:
Time to get on my favorite soapbox. If the fines for companies breaking the law aren't so punitively huge and out of all proportion to their damage, then companies will just see them as a cost of doing business. You have to make executives want to follow the law through fear of their bonus being smaller.

/alternatively, jailing a few C-Level execs will also make a company follow the law
 
2021-07-30 10:25:00 AM  
1 vote:
Yeah, but it hurt their feelings.
 
2021-07-30 11:11:26 AM  
1 vote:

Gubbo: Time to get on my favorite soapbox. If the fines for companies breaking the law aren't so punitively huge and out of all proportion to their damage, then companies will just see them as a cost of doing business. You have to make executives want to follow the law through fear of their bonus being smaller.

/alternatively, jailing a few C-Level execs will also make a company follow the law


Good luck with that.
 
2021-07-30 11:40:51 AM  
1 vote:
Shall be prohibited from conducting any business for a period of 30 days. Employees shall be paid normal wages for that duration.

Next offense will result in a 6 month ban.

While I'm musing about the impossible, I'd also like a baby unicorn for my birthday.
 
2021-07-30 5:32:40 PM  
1 vote:

The Sophian Church: 21.33 billion U.S. dollars.

That's the profit from 2020. If we do some quick division to find out the per hour rate,

$21,330,000,000 / 365.25 = $58,398,357 / day

/ 24 hours = $2,433,264 per hour

This fine was $884,942,500.

$884,942,500 / $2,433,264 = 363.68 hours of profit = 15.15 days worth of profit.

They lost the equivalent to half of April's net income for this violation.


Honestly... More than I thought.

Figured it'd be, "oh no... We lost half an hour of profit.... From 4am on a Tuesday."
 
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