Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

TikTok’s latest GDPR breach could cost them up to $376M

by September 13, 2023
September 13, 2023
TikTok’s latest GDPR breach could cost them up to $376M

TikTok are involved in yet another data breach fine following a £12.7 million fine by the UK for illegally processing the data of 1.4m children under 13.

The video-sharing platform is being fined by the European Data Protection Board after they reached a decision over the platform’s processing of child data.

The investigation opened in 2021 by the data protection commissioner in Ireland into TikTok’s level of compliance with the EU’s general data protection regulation

The fine is expected to be issued in the next four weeks, but what exactly could the value of that fine be? GDPR and compliance expert, and Director of Skillcast, Vivek Dodd, shares just how high it could be, and how GDPR fines are calculated.

“Penalties for breaching the GDPR can reach up to €20 million or 4% of annual global turnover, whichever is highest.” Vivek states.

“There are a number of factors that influence the size of the penalty, all of which are examined by the EDPB ahead of the issuing of the fine in September.” Vivek has outlined the eight factors that will be considered.

Gravity, nature & duration of breach

Personal data categories affected

Negligent or intentional infringement

Actions taken to mitigate the damage

Degree of responsibility of data controller/processor

Previous data breach infringements

Cooperation with supervisory authorities

Aggravating or mitigating factors (e.g. financial benefits gained from the infringement)

Considering all eight factors, Vivek adds, “Given TikTok’s previous fines earlier this year and the fact it’s data of those under 13 years-old, it wouldn’t be a surprise if the platform faces a huge fine. 4% of TikTok’s annual global turnover could equate to $376 million if we use BusinessofApps’ estimated $9.4 billion in annual revenue for TikTok in 2022.”

Discover the common data breaches in businesses and how you can prevent a huge fine like TikTok with Skillcast.

Read more:
TikTok’s latest GDPR breach could cost them up to $376M

0
FacebookTwitterGoogle +Pinterest
previous post
Cutting-edge projects secure £6.6m investment to strengthen the UK’s supply of critical materials for magnets
next post
Introducing Defending Globalization, a new Cato Institute Project

You may also like

Why You Can’t Afford to Ignore Hyperpersonalisation in...

April 1, 2025

Rolls-Royce and Bentley accelerate over the past 12...

January 10, 2023

Businesses to learn next week how the government...

September 15, 2022

Should I stay or should I go?

January 22, 2024

Rising Threat of ‘Hackers for Hire’: How End-to-End...

August 9, 2023

McDonald’s Ends AI Drive-Thru Trial Amid Fast-Food Industry’s...

June 18, 2024

“Unlocking potential is my purpose”: how Invicta Vita...

June 12, 2025

What Should You Know When Booking an Airport...

February 18, 2025

Foodhak uses artificial intelligence to scour 200,000 clinical...

June 27, 2023

Pret A Manger closes veggie-only outlets as vegetarian...

February 8, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump’s Debanking Order Calls for Investigation, Something Tennessee Should Have Done

      August 10, 2025
    • Trump nominates State Department spokeswoman Tammy Bruce as UN deputy representative

      August 9, 2025
    • Kash Patel celebrates major FBI achievements and record seizures during Trump’s first 200 days in office

      August 9, 2025
    • The Ivy faces legal challenge from waiter over share of tips and service charges

      August 9, 2025
    • Smarter mining, more stable returns: RICH Miner launches convenient cloud mining app supporting XRP and BTC

      August 9, 2025
    • Sydney Sweeney jeans controversy making advertising great again

      August 9, 2025

    Categories

    • Business (8,730)
    • Investing (2,191)
    • Politics (16,349)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved