Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Digital Identity, Security & Online Fraud

Failing to comply with GDPR might result in GBP 122 bln in fines

Friday 21 October 2016 | 01:53 PM CET

PCI SSC has warned that European Union General Data Protection Regulation (GDPR) will bring financial consequences for companies that fail to comply.

Regulatory fines hit GBP 1.4 billion total in the UK in 2015. According to PCI SSC’s estimation, in the first year of the new GDPR, one can expect to see fines of up to GBP 122 billion imposed against UK companies in 2018 alone.

In addition to government standards like the new EU GDPR, PCI’s own standards are already a major area of compliance concern for many companies around the world.

While companies do have two years to get ready for the new EU GDPR policies to become actively enforced, organizations like the PCI SSC are urging them to start acting now to become compliant.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement