Big companies to pay big fines for data misuse under newly-approved EU laws

‘Companies could find themselves paying hundreds of billions of dollars in fines if they misuse people’s information online, according to data protection laws backed by European officials. Large tech companies would be most affected by the legislation.

The data protection regulations – approved on Tuesday during a meeting of representatives from the European Commission, the European Parliament, and EU member states – outline that companies could be issued fines totaling up to four percent of their global revenues if they misuse Europeans’ data online, or obtain information without people’s consent.

That four percent could add up to huge amounts for big companies. For instance, Apple – which had revenues of nearly $234 billion in fiscal 2015 – could find itself shelling out $10 billion in fines if hit with a four percent penalty.’

Read more: Big companies to pay big fines for data misuse under newly-approved EU laws

The post Big companies to pay big fines for data misuse under newly-approved EU laws appeared first on David Icke.