5% of turnover is a substantial fine...
Businesses breaching European Union privacy rules will face fines of up to 5 per cent of their global turnover under sweeping proposals to be unveiled next month.
In the first significant update of data protection legislation since 1995, companies found to have mishandled any personal data they hold – be it of their customers, suppliers or their own employees – will face the highest levels of fines, which could extend to billions of euros for large multinationals.
