What is the fine system under GDPR?

The General Data Protection Regulation (GDPR) is a data security law that was established by the European Union in 2018. The GDPR requires organizations to protect the personal data and privacy of individuals within the EU. Under GDPR, organizations are fined when they breach data privacy rules. The fines are divided into two categories: administrative fines and corrective fines. Administrative fines are issued to organizations that have failed to comply with the data protection requirements of GDPR. These fines are based on the severity of the violation and range from a minimum of €10 million to a maximum of €20 million, or 4% of the organization’s global annual turnover (whichever is greater). Corrective fines are issued to organizations that have breached data protection requirements but have taken steps to address the violation. These fines are based on the severity of the violation and range from a minimum of €5 million to a maximum of €10 million, or 2% of the organization’s global annual turnover (whichever is greater). In North Carolina, the GDPR fines will be imposed by the Federal Trade Commission. They will work in coordination with the North Carolina Attorney General’s office to ensure organizations have taken appropriate action to comply with data security laws. Organizations that violate GDPR may be subject to administrative or corrective fines, depending on the severity of the violation.

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What is the fine system under GDPR?

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