this post was submitted on 22 Jan 2024
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Obligatory: companies should face harsh penalties for this stuff.
They do, in the EU. If you fuck up your customer's data, you'll face fines consisting of hefty percentages of your yearly revenue!
https://www.enforcementtracker.com/
Yep, hefty. Top 5: 1.2B meta, 746M amazon, 405M meta, 390M meta, 345M tiktok (all in €).
Oh noooo, 1% of their yearly gross revenue or 1.3% of their yearly gross profit. What a fine!
Side note: I would love to discover a public record of them paying these fines... we hear they ate fined, but never that they had to pay them. What is stopping them from cutting a deal of a payment plan over 20 years with 0% interest or full up front but only paying 30% of it or some lobbying BS.
We can infer that for sure this fine is coming out pre-tax.