If a company is subject to the GDPR or DSGVO (in Germany) and fails to comply with its requirements, it may face severe consequences, including fines and penalties. The GDPR provides for administrative fines of up to €20 million or 4% of a company’s global annual revenue, whichever is higher. These fines can be imposed for various violations of the GDPR, including:
- Failure to obtain valid consent from individuals for the collection and processing of their personal data
- Failure to implement appropriate technical and organizational measures to ensure the security of personal data
- Failure to notify the relevant authorities and affected individuals of a personal data breach
- Failure to provide individuals with access to their personal data or to rectify inaccurate data upon request
In addition to the fines and penalties, non-compliance with the GDPR can also damage a company’s reputation and erode customer trust. It can also result in legal action and civil claims for damages by individuals whose personal data has been mishandled or compromised. Therefore, it’s essential for companies subject to the GDPR to comply with its requirements to avoid these consequences.
The laws from country to country will/may differ as well as penalties for non-compliance. Find out WHAT DSGVO is in this article here. Find out Why your website needs to have legal compliance – DSGVO in this article here.