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Technology GDPR has led to $126 million in fines over data privacy

06:30  21 january  2020
06:30  21 january  2020 Source:   engadget.com

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The GDPR came into force not only as a powerful European data privacy law with the ability to fine companies up to 4 per cent of their global annual revenue. The largest fine resulting from the law was the 50 million euro punishment ( million ) on Google in France for a lack of transparency.

The European Union's overhaul of data privacy regulation is estimated to have generated 114 million euros ($ 126 million ) in fines since it was introduced almost Since its implementation in May 2018, the General Data Protection Regulation ( GDPR ) led to over 160,000 data breach notifications across

It's been a year and nearly eight months since the EU's data privacy law, the GDPR (General Data Protection Regulation), came into force and 114 million euros ($126 million) in fines have been imposed so far, according to a new report.

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The law firm DLA Piper also said that 160,000 data breaches have been reported in this time -- most of them coming from the UK, Germany or the Netherlands. The last year has seen an increase in breaches reported by 12.6 per cent compared to the first eight months of the GDPR.

The GDPR came into force not only as a powerful European data privacy law with the ability to fine companies up to 4 per cent of their global annual revenue. It's also a model for the rest of the world on how to regulate the unchecked flow of personal information enabled by today's heavyweight tech companies.

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Now, more than 20 months after GDPR has been in force, official data from DLA Piper reveals there have been over 160,000 notified data breaches, with over €114 million ($ 126 million ) in fines , the biggest of which was Google at €50 million . According to CNBC, Ross McKean, a Partner at DLA

Europe has become the world’s most aggressive tech watchdog. In addition to the privacy rules, the region ’s regulators have set the bar with stricter enforcement The fine announced on Monday is far lower than the maximum penalty under the European privacy law, which is 4 percent of global revenue.

The largest fine resulting from the law was the 50 million euro punishment ($57 million) on Google in France for a lack of transparency. (Though to put that figure in context, Google's parent company Alphabet was recently valued at $1 trillion). However, the law firm's study did not count the proposed 183 million pound ($238 million) fine on IAG, which owns British Airways in the UK -- if carried out, that would be a record fine.

DLA Piper

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