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£500,000 for Firms that Suffer Serious Data Loss

A recent article in CRN Magazine  and states the proposed introduction of fines of up to £500,000 for firms that suffer serious data loss
From next year, the privacy watchdog the Information Commissioner’s  Office (ICO)  will be able to fine companies that recklessly or maliciously breach the Data  Protection Act (DPA). The Ministry of Justice yesterday launched a  public  consultation on the maximum amount such fines can run to – a figure it  proposes  should be set at £500,000.In its consultation document the MoJ said it chose £500,000 because  it did  not want the penalty to be more than “10 per cent of the highest annual  turnover  of a small company”.As well as being imposed for malicious or reckless breaches of the  DPA, the  fine could also be used by the ICO against companies who have:

  • Stored or processed personal data in a country outside of Europe  that does   not have adequate data protection legislation
  • Kept data for longer than is necessary for the organisation
  • Obtained personal data unlawfully
  • Accidentally deleted data

Whilst PerfectBackup cannot help with points 1 to 3 we are able to  restore  your backed up data which may have been deleted many years ago.

Under the ICO’s current powers, the strongest sanction the watchdog  has  against organisations that lose data is to serve it with an enforcement  notice  requiring it to improve data security or face legal action.

Deputy information commissioner, David Smith, welcomed the ICO’s new  powers  and said they would help stop more breaches from occurring.

“We are keen to encourage organisations to achieve better data  protection  compliance and we expect that the prospect of a significant fine for  reckless or  deliberate data breaches will focus minds at board level,” he said in a  statement.

The announcement coincides with the latest ICO figures showing that  711  businesses, government bodies and charities have suffered data security  breaches  over the past two years.

Mitol PerfectBackup are committed to offering tailored online backup  solutions for  businesses worldwide, if you feel you are not complying with the above  then  please contact a member of our support team for guidance.