For your information, the General Data Protection Regulation (“GDPR”) and the California Consumer Privacy Act (“CCPA”) impose significant penalties for non-compliance with their requirements.
Under GDPR, businesses can be fined up to 4% of their annual global revenue or €20 million, whichever is greater, for the most serious violations. The regulation also allows for fines of up to 2% of annual global revenue or €10 million for less serious violations.
Under CCPA, businesses can be fined up to $2,500 for each violation or up to $7,500 for intentional violations. Additionally, consumers have the right to sue businesses for data breaches that occur as a result of the business’s failure to implement reasonable security measures.
Both GDPR and CCPA also require businesses to provide individuals with the right to request access to their personal data, the right to have their data deleted, and the right to opt-out of the sale of their data. Failing to comply with these requirements can result in additional penalties and legal action.
In addition to fines and legal action, non-compliance with GDPR and CCPA can also result in reputational damage, loss of customer trust, and negative impact on business operations. Therefore, it’s important for businesses to take data privacy seriously and implement appropriate measures to comply with these regulations. Due to the complexity of GDPR and CCPA compliance, it’s generally recommended that you work with an experienced attorney to ensure that your use of customer data is both compliant, yet meets your specific needs and goals.