What are the penalties for non-compliance with the GDPR?
The penalties for non-compliance with the General Data Protection Regulation (GDPR) are severe. In Florida, organizations that do not comply with the GDPR face up to 4% of their worldwide annual turnover or $20 million in fines, whichever is greater. In addition to monetary fines, organizations face other consequences for non-compliance. Companies that are found not to be in compliance with the GDPR may face criminal sanctions and/or civil liabilities. This could include penalties for failing to comply with data subjects’ rights such as the right to access or the right to erasure. Other penalties could include the suspension of data processing or the institution of a corrective plan in order to bring the organization into compliance. Organizations can also face reputational damage from non-compliance with the GDPR. When organizations are found to be non-compliant, they can suffer credibility and trust issues. This can lead to a loss of customers and a poor public image. Overall, non-compliance with the GDPR can have devastating consequences. It is important for organizations in Florida to take all necessary steps to ensure their compliance with the GDPR in order to avoid hefty fines, criminal sanctions, civil liabilities, and reputational damage.
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