So how much is a data protection fine? You will see people talking about 20 million Euro fines.
We are not in the business of scaring you. The scale of fines relates to the size of organisation, the scale and severity of the breach and what type of information was compromised. It is unlikely the average business is going to be fined a million euros!
Even so the level of fines is increasing to a potential 4% of turnover. How much is that for you?
Many service sector businesses have mostly stayed out the firing line up to now, as it has been the 'data controller' who is liable for breaches. Your corporate client was responsible for securing the data they shared with you. But from May 2018, the 'data processor' is also liable. This will affect many businesses. You will need to update how you handle your own data and data that comes from clients you support.
You don't want to lose money in fines. And you may find your customers are not keen to trust you with their data if you have a track record of mishandling it.
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