GDPR Alert As Average ICO Fines Double In A Year

The value of fines issued by the Information Commissioner’s Office (ICO) has increased 24% in the year to September 30 versus the previous year, according to new data.

Law firm RPC calculated that the total cost of financial penalties issued by the UK’s data protection watchdog stood at £4.98m, up from £4m in the previous 12 months.

The average fine doubled, to £146,000, in another timely reminder for firms to ensure they pay attention to GDPR compliance.

The law firm believes the new EU-wide privacy law, introduced in May this year, will result in higher fines for large firms. However, SMEs should be spared, in the short-to-medium-term at least, and firms will not be picked deliberately by the ICO to make an example of.

RPC partner, Richard Breavington, described the hike in fines as a “wake-up call” to businesses.

“Given that there seems to be no slowdown in the number of cyber-attacks today businesses need to see how they can mitigate the risks to their customer when there is an attack,” he added.

“For example, businesses should ensure that they take out cyber insurance policies so that they can bring in experts to contain the impact of an attack and limit the exfiltration of data.”

Sarah Armstrong-Smith, head of continuity and resilience at Fujitsu UK & Ireland, argued that the ICO fine is just one aspect of data breach costs to consider.

“We must also consider the cost that a recovery, compensation claim, reputational damage or potential loss of customers can have,” she added.  

“Changes in data protection legislation aim to give individuals more ownership and control over what’s happening to their personal data. The focus needs to be on the interests and rights of data subjects, employees, customers and all stakeholders: everyone you come into contact with. Their interests need to be the principal focus if companies are to avoid hefty fines.”

InfoSecurity:

You Might Also Read:

GDPR Survey Shows 80% Non-Compliance

Facebook Could Face A GDPR Fine Of $1.63bn

« China Exports Cyber Surveillance To Africa
The Search To Find Cyber Security Experts Of The Future »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

Resecurity, Inc.

Resecurity, Inc.

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

Digital Gurus Recruitment

Digital Gurus Recruitment

Digital Gurus provide specialist recruitment services in areas including IT and information security

Identity Theft Resource Center (ITRC)

Identity Theft Resource Center (ITRC)

ITRC is a non-profit organization established to empower and guide consumers, victims, business and government to minimize risk and mitigate the impact of identity compromise and crime.

Celestix Networks

Celestix Networks

Celestix is a global provider of secure network solutions that enable the simple deployment of secure remote access connectivity.

Institute for National Security and Counterterrorism (INSCT)

Institute for National Security and Counterterrorism (INSCT)

INSCT is a center for the study of national security, international security, and counterterrorism. Research programs include New Frontiers in Science, Cyber, & Technology

SonicWall

SonicWall

SonicWall provide products for network security, access security, email security & encryption.

Cybraics

Cybraics

Cybraics nLighten platform implements a unique and sophisticated artificial intelligence engine that rapidly learns your environment and alerts security teams to threats and vulnerabilities.

MedCrypt

MedCrypt

MedCrypt are a team of medical device experts focused on bringing modern cybersecurity features to the next generation of healthcare technology.

Guardara

Guardara

Guardara's mission is to help our customers to continuously improve in every aspect of software development.

Resilience Cyber Insurance Solutions

Resilience Cyber Insurance Solutions

Resilience Cyber Insurance combines insurance expertise with cybersecurity and data talent to deliver clear, effective solutions to protect you for the cyberrisks of today—and tomorrow.

Venustech

Venustech

Venustech is a leading provider of network security products, trusted security management platforms, specialized security services and solutions.

Censinet

Censinet

Censinet provides the first and only third-party risk management platform for healthcare organizations to manage the threats to patient care that exist within an expanding ecosystem.

Ping Identity

Ping Identity

At Ping Identity, we believe in making digital experiences both secure and seamless for all users, without compromise. That’s digital freedom.

DynTek

DynTek

DynTek delivers exceptional, cost-effective professional IT consulting services, end-to-end IT solutions and managed IT services.

Phone Monitoring Service

Phone Monitoring Service

Phone Monitoring Service provides cyber security services, ethical hacking services, social media hacking services in the USA, Canada, Europe.

Core42

Core42

Core42 provides a full-spectrum of AI enablement solutions covering cloud, data, cybersecurity and digital services designed for customer success.

Panasonic Automotive Systems

Panasonic Automotive Systems

Panasonic Automotive Systems brings together security technologies and human resources cultivated across an extensive range of businesses into the automotive field.