Administrative Fines Under The GDPR In Hungary

Hungarian businesses have the "sword of Damocles" hanging over their head as the new European data protection regulation ("GDPR") is applicable as of 25 May 2018. Due to the fact that the majority of the Hungarian companies are micro-enterprises, the administrative burdens cause an impossible obstacle to them.

The amount of the administrative fines may be up to EUR 10 million or, in the case of an undertaking, up to 2% of the total worldwide annual turnover of the preceding financial year, whichever is higher. In case of a more series infringement of the provisions of the GDPR, the fines may be up to EUR 20 million, or for an undertaking, 4% of the total worldwide annual turnover of the preceding financial year.