Hardly a discouragement, is it?
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Facebook violated French data protection rules and has been fined just €150,000 after the multi-billion dollar free content ad network slurped data on its users' Web browsing habits without their explicit consent.
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Don't worry, it's not the only one
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@RaceProUK i will never understand why aren't these fines, since their first draft, automatically, calculated as "% of company's/individual's gross worldwide yearly income"
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@sh_code said in Hardly a discouragement, is it?:
@RaceProUK i will never understand why aren't these fines, since their first draft, automatically, calculated as "% of company's/individual's gross worldwide yearly income"
Because that would probably open the door to Hollywood accounting.
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@Rhywden ...which might finally get Hollywood accounting prosecuted as fraud. I see no downsides here. :P
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@masonwheeler said in Hardly a discouragement, is it?:
...which might finally get Hollywood accounting prosecuted as fraud.
...which would also solve the problem we have with tax havens, if done correctly.
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@Rhywden said in Hardly a discouragement, is it?:
Because that would probably open the door to Hollywood accounting.
So long as they also include worldwide subsidiaries in that, it's not too much of a problem since they were talking about gross income and not profit.
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@sh_code said in Hardly a discouragement, is it?:
@RaceProUK i will never understand why aren't these fines, since their first draft, automatically, calculated as "% of company's/individual's gross worldwide yearly income"
The next one does in fact do that. The GDPR (Euroweenie ruling) that comes into force next year has fines defined this way. Or at least, it has them laid out in terms of maximum fine because all breaches are not equal.
The GDPR lays out that there are two tiers - for businesses that are 'the most important for data protection' have the fine up to €20M or 4% of global annual turnover for the preceding financial year, whichever is the greater.
Lesser entities, the figures are half that - €10M or 2% of last year's turnover, whichever is the greater. But these are maximum figures rather than the instant rules - partly because this would make all smaller businesses effectively defunct (because who's going to do business with that kind of fine if it is equally applied to every type of breach)
But since this is EU-wide rather than worldwide, we'll just see a different kind of Hollywood accounting for places like Facebook that will just shuffle money in a different way to avoid this being a risk in the first place.
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@Rhywden i had to read up on what Hollywood Accounting is.
my dog thanks you very much for it delaying my going out with him :-D
(i thank you very much for a new term i've learned)