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Companies Should Beware Any Relaxation of Data Protection Protocols as Levels of Fines Revealed
All Businesses Should be Aware of Regulations (and Potential Penalties)
EUROPE – Before Covid-19 began to cut a swathe through the population and became the headline grabber of 2020, data protection had been very much an issue concerning most businesses. Now figures released show that it would be unwise for companies still trading in the European Union and beyond to relax their vigilance on adhering to the regulations and the ways they collate, handle and retain personal data.
International law firm DLA Piper has been looking at the level of fines levied within the EU in its latest annual General Data Protection Regulation (GDPR) fines and data breaches report covering the 27 European Union Member States plus the UK, Norway, Iceland and Liechtenstein.
GDPR Fines Surge 39% Over Past Year Despite #COVID19
Phil Muncaster UK / EMEA News Reporter , Infosecurity Magazine
The past year has seen double-digit increases in the value of GDPR fines imposed by regulators and the volume of breaches notified to regulators, according to a new analysis by DLA Piper.
The international law firm said that €158.5m ($192m, £141m) in fines was imposed since January 28 2020, a 39% increase on the previous 20-month period since the law came into force in May 2018.
Breach notifications surged by 19%, the second consecutive double-digit increase, to reach 121,165 over the past year.
In total, €272.5m ($332m, £45m) in fines has been issued since the start of the new regulatory regime, with Italy (€69m) having imposed the larges number, followed by Germany and France.