The level of fines for companies found to be in breach of data protection laws is set to increase significantly under GDPR. Business could be fined as much as 4 percent of global turnover or 20 million euros, whichever figure is greater.
Speaking in Brussels, Belgium, last week, Sheryl Sandberg, chief operating officer at Facebook, said the company’s upcoming changes would give it “a very good foundation to meet all the requirements of GDPR and to spur us on to continue investing in products and in educational tools to protect privacy.”
In recent years, Facebook has faced probes from EU regulators over its use of data and tracking of online activities.
While strict new regulations are poised to come into force in the EU in May, the changes are also rippling out worldwide with Google and Amazon both amending their respective privacy processes in recent weeks.