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Amazon faces more than $425 million in EU fines

Amazon faces more than $425 million in EU fines

According to the letter, Amazon could therefore receive the highest fine imposed under these rules. One source said the issue is about how Amazon collects and uses people’s personal information. However, he refused to provide details of specific allegations against the company.

The CNPD’s proposal has not been approved by the data protection authorities of other EU member states. This procedure can take several months and can lead to significant changes in the form of the proposal, including adjusting the amount of the fine. CNPD is Amazon’s main privacy regulator in the European Union, with the company’s headquarters located in Luxembourg.

The fine proposed by the CNPD is about 2% of Amazon’s $21.3 billion net profit last year, and just over a tenth of its $386 billion in sales. Under the GDPR, regulators could fine up to four percent of a company’s annual revenue for some misconduct, according to the Wall Street Journal.

Amazon is the largest online store in the world. The founder and CEO of the company is Jeff Bezos, who is currently the richest man in the world. According to Bloomberg, his assets are around $191 billion.

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