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this post was submitted on 06 Sep 2023
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Technology
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We might only hope this regulatory body has more teeth than their Amerikan counterparts. Otherwise, these megacorps will just pay the fine-- which will no doubt be seen as little more than "the cost of 'doing business'" for them.
"What will be the consequences of non-compliance?
Fines: of up to 10% of the company’s total worldwide annual turnover, or up to 20% in the event of repeated infringements"
it's a tough pill to swallow.
Microsoft had an annual turnover of 212 billion USD in 2023, so a 10% fine of that would be 21,2 billion dollars. Yeah I think they'd rather comply