Re:FTC says Uber took a wrong turn with misleading privacy, ...
by malandrew on Monday August 21, 2017 @02:22AM
(#15062355)
The GDPR is going to be a big blow for the European tech startup scene. For companies in the US, they can just enter Europe once they've addressed its requirements. European companies on the other hand need to implement it from day one.
The fine is interesting because it is easy to minimize by creating a subsidiary per country. That very effectively shields annual worldwide turnover.
According to the General Data Protection Regulation (2016/679). Appart from regular audits you may run into the following consequences :
a fine up to 20000000 EUR or up to 4% of the annual worldwide turnover of the preceding financial year in case of an enterprise, whichever is greater (Article 83, Paragraph 5 & 6[18]).
Ask companies like Microsoft, Volkswagen, Renault, Daimler or Google and they can you assure you that the responible entities don't look kindly at corporate bullshit PR statements, which the likes of Uber seem so fond of.