European Union privacy regulators have announced the European General Data Protection Regulation (GDPR)law.
Quoting unnamed people who are familiar with the problem, The Wall Street Journal We report that if a penalty is imposed, it could be the largest penalty ever imposed on a GDPR violator.
Sources refused to elaborate on certain claims against Amazon, but they revealed that it wasn’t related to Amazon. Cloud computing business AWS..
Based on Amazon’s $ 21.3 billion in net revenue reported last year, the proposed fine represents about 2% of the company’s revenue in 2020, or just 0.1% of its annual revenue of $ 386 billion. The GDPR allows regulators to fine up to 4% of a company’s annual revenue.
Just a draft
The proposed decision on Amazon has been reported to be circulated by the Luxembourg Data Protection Commission, CNPD, among 26 other national authorities in the block.
Headquartered in the EU in Luxembourg, Amazon is under the jurisdiction of CNPD and is Amazon’s leading privacy regulator.
However, The Wall Street JournalThe GDPR draft decision must be agreed by all other EU privacy regulators before it can be finalized. This process can take months and can lead to substantial draft changes, perhaps including fine changes in either direction.
In fact, if the source should be believed, CNPD has already received a small number of objections to its proposal, including at least one demanding higher fines.
via The Wall Street Journal
Amazon could face the biggest GDPR fine ever
Source link Amazon could face the biggest GDPR fine ever