GDPR fines

GDPR fines are penalties imposed on organizations that fail to protect individuals' personal data as required by European data protection laws. These fines can be substantial and are based on the severity and nature of the violation. They serve to enforce responsible data handling and privacy practices, encouraging organizations to be transparent and diligent. The fines can reach up to 4% of a company's global annual revenue or €20 million, whichever is higher, emphasizing the importance of compliance to avoid significant financial consequences.