GDPR will introduce a two-tier fine system. Any data controller or processor that fails to comply with GDPR will face the following fines coupled with huge damage to reputation.
If a data breach occurs that puts, what the authorities deem to be highly important data at risk, the data controller/processor will be fined up to a maximum of €20m or 4% of the previous year’s group global turnover, dependent on which figure is higher.
Any other data breach could lead to fines of up to a maximum of €10m or 2% of the prior year’s group global turnover, dependent on which figure is higher.
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