What happens if you aren’t GDPR compliant?
Failure to comply with GDPR can result in some pretty hefty fines. The fines will range from €20million, or up to 4 percent of the offending organization’s annual revenue — whichever is greater. Now that’s a serious fine.
For lesser offences, the fine will be halved to €10million, or up to 2 percent of the offending organization’s annual revenue — again, whichever is greater.
(Finger’s crossed your company is compliant)The higher level fines will be reserved for cases in which data infringement occurs, procedures for handling data aren’t in place, an unauthorized transfer of data occurs, or requests are ignored for customer data access.
The lower level fines still apply to the misuse of data, but on a minor scale. For example, failing to report a data breach, failing to notify your customers about the recent breach, or failing to administer the correct data protection protocols.
The extent of the fines your company will receive depends upon how severe the breach is, and the compliance actions you’ve taken as a result of the breach.