GDPR fine #1

Twitter has been charged a fine of about $547,000 for a breach of the General Data Protection Regulation(GDPR) – Europe’s new privacy law by Ireland’s Data Protection Commission(DPC) for its failure to notify a breach on time.
The breach revealed some users’ protected or private tweets due to a bug. The breach has affected tweets as far back as 2014.

Companies can be fined up to 4% of global annual revenues for breaching GDPR. For Twitter, that could mean a fine of up to $138 million.

But the actual fine for Twitter was $547,000 which forms about 0.016% of its revenue($3.46 Billion) for 2019 and would take twitter less than an hour and a half to generate.

That is barely a slap on the wrist for Twitter. It really questions the significance of such fines.

Thoughts?

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Shreesha S
Shreesha writes about Business, Finance and Tech for The Snippets Journal. He is also the Founder and Head of Content Development.
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