EU Privacy Laws Entail Big Fines

Companies could pay penalties of up to 2% of sales for losing personal data under proposed changes.

Companies face fines as high as 2 percent of yearly global sales for losing personal data under an overhaul of European Union privacy rules.

Data protection agencies in the EU’s 27 countries would gain the power to sanction companies that violate requirements for handling personal information proposed by the European Commission today. The measures, which also target online- advertising and social networking sites, update the EU’s 17-year-old data protection policies.

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