If you ignore the GDPR, you may be subject to enforcement action by the relevant data protection authority. The GDPR provides for a range of enforcement measures that can be taken against companies that violate the regulation. These measures include fines, which can be significant.
Under the GDPR, companies can be fined up to 4% of their annual global turnover or €20 million (whichever is greater) for the most serious violations, such as not having sufficient customer consent to process data or violating the core of the GDPR.
In addition to financial penalties, ignoring the GDPR can also result in reputational damage to your company. The GDPR requires companies to be transparent about their data protection practices, and if you are found to be ignoring the regulation, it could damage your reputation and lead to a loss of customer trust.
Therefore, it is important to ensure that your company complies with the GDPR and takes steps to protect the personal data of EU citizens. This may involve implementing appropriate technical and organizational measures, such as conducting regular data protection impact assessments and providing data protection training for employees.