What is the cost of non-compliance with GDPR and the appointment of an EU representative?
The costs of non-compliance are significant and the fines in the GDPR can extend to vast sums of up to 4% of global revenue or 20 million euro and those are well documented. There is also the potential of civil liability under the GDPR where a data subject whose rights are breached can sue under the GDPR, and indeed you have class action type lawsuits now which can be brought on behalf of large numbers of data subjects collectively against a business if it’s breaching rights on a large scale by its data collection processes or whatever it’s using in the EU. You have the prospect of civil liability by data subjects and you also have the prospect of enforcement by the data protection supervisory authorities who can impose fines, up to a maximum of 4% of global revenue.
The really significant thing about failure to comply with GDPR is that you are breaching the rights of the people that you are doing business with. With businesses who don’t take the rights of their customers and clients seriously, probably the biggest risk that they face is that they’re essentially not displaying basic respect and trust for the people that they are seeking to do business with.