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.
By Phil Muncaster
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