From: RegTech Analyst
There has been a total of €114m in fines imposed across Europe under the General Data Protection Regime (GDPR), according to a report from DLA Piper.
This figure could increase as the UK’s financial regulator has threatened to issue a further €329m in fines.
France has issued the highest fines, while Netherlands has the most beach notifications, per capita.
There have been more than 160,000 data breach notifications reported in the EU, as well as Norway, Iceland and Liechtenstein, since the regulation came into force in May 2018.
According to the report, the daily rate of breach notifications has increased by 12.6% from 247 notifications per day for the first eight months of the regulation, to 278 breach notifications each day during 2019.
The Netherlands had the highest number of breaches per 100,000 people and increased to 147.2 from 89.8.
DLA Piper partner Ross McKean said, “GDPR has driven the issue of data breach well and truly into the open. The rate of breach notification has increased by over 12% compared to last year’s report and regulators have been busy road-testing their new powers to sanction and fine organisations.
“The total amount of fines of €114 million imposed to date is relatively low compared to the potential maximum fines that can be imposed under GDPR, indicating that we are still in the early days of enforcement. We expect to see momentum build with more multi-million Euro fines being imposed over the coming year as regulators ramp up their enforcement activity.”
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