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

Understanding the value of becoming a certified Blockchain...

May 27, 2025

Getting to Know You: Michael Carroll, Council Member...

March 14, 2023

Energy Price Cap in Great Britain to Hit...

February 24, 2024

Banks prepare to tighten supply of new mortgages

April 14, 2023

How you can benefit from fast withdrawal casinos

August 12, 2024

Elon Musk emails staff as Tesla stocks reach...

December 30, 2022

Wimbledon winners to pay up to £1.3m in...

July 4, 2025

Top 6 Strategies to Improve Your Business and...

May 30, 2023

Buying a second home in Italy: safe haven...

June 17, 2025

Shipping firms pause Red Sea journeys over attacks

December 15, 2023

Understanding the value of becoming a certified Blockchain...

May 27, 2025

Getting to Know You: Michael Carroll, Council Member...

March 14, 2023

Energy Price Cap in Great Britain to Hit...

February 24, 2024

Banks prepare to tighten supply of new mortgages

April 14, 2023

How you can benefit from fast withdrawal casinos

August 12, 2024

Elon Musk emails staff as Tesla stocks reach...

December 30, 2022

Wimbledon winners to pay up to £1.3m in...

July 4, 2025

Top 6 Strategies to Improve Your Business and...

May 30, 2023

Buying a second home in Italy: safe haven...

June 17, 2025

Shipping firms pause Red Sea journeys over attacks

December 15, 2023

    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

    • Six pioneering AI and data projects hailed for real-world environmental impact after £2m Innovate UK backing

      July 7, 2025
    • Prime Day poised to top $21bn globally – but UK experts warn of Amazon dominance risks

      July 7, 2025
    • UK carmakers near EV sales targets despite government weakening rules after industry pressure

      July 7, 2025
    • Businesses and charities urge UK to scrap VAT on refurbished electronics to tackle e-waste and cut household costs

      July 7, 2025
    • Trump threatens 10% tariff on countries aligning with BRICS

      July 7, 2025
    • Apple pays £304m in UK tax as profits soar past £1bn

      July 7, 2025

    Categories

    • Business (8,409)
    • Investing (2,102)
    • Politics (15,949)
    • Stocks (3,191)
    • 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