Let’s do some logic. You’re an evil multitrillion dollar company that makes billions in profits by breaking the law. But, by doing so, you’ll be fined 12 million dollars, of which you’ll contest and get reduced to 7 million. Barely a blip on the monthly revenue stream.
I wonder why they keep ignoring (breaking) the laws.
It has always astounded me that penalties to companies are almost always either a tiny fraction or the ill-gotten gains, or at most the total amount of the ill-gotten gains.
I’m like NO! How about TEN TIMES the ill-gotten gains? Or literally some amount which is so much it’s going to hurt the company. Like 25-50% of the value of the whole company?
And if that sounds like it’s too much because the company would have trouble surviving, THAT’S THE POINT!
And then they get to KEEP the ill-gotten gains! What bank robber ever gets to keep the cash for when they get out?
This is a huge thing I am hoping Europe does. To vastly ramp up humungous fines
I’d vote for that 100%
Should get one warning fine and if they fail to abide by that the entire company gets parted out to a bunch of smaller entities and their software gets changed to FOSS.
March into their campuses and start arresting executives and deleting servers at random until they comply.
You don’t need to go that far. Arrest and jail the CEO, and tell the execs you’ll come back for them in 3 days.
I absolutely guarantee you the bad practice stops within 24 hours (or some smartass may try to hide it better, might warrant a few years in jail with the commoners, of course).
If laws are never enforced do they exist? Need to imprison people for white colar crimes or ban them from ever holding a position of power equivalent to their current.
Accepted financial risk
Rules stopped mattering when tech companies have the government on speed dial.
Almost makes you wonder why class actions were gutted by the supreme court. Nobody is going to sue for 8k since hiring a lawyer would cost more, and a class action would be impossible to win. AG seems to have some power though.
How else do you expect them to monetize every aspect of your life, Peasant? More money means Better Than You.
Know your place and hand over your information. What are you, a communist?
