Heavy fines issued for data breach incidents
Several huge organisations including Facebook and Tesco have recently been handed heavy fines as a result of data breach incidents.
Facebook – with more than 2.2 billion monthly active users as of January 2018 – was issued with a £500,000 fine by the UK’s Information Commissioner’s Office (ICO) after investigations revealed that they gave third parties unlawful access to the personal information of users. Facebook are potentially facing a separate fine of up to $1.6billion (4% of its annual global turnover) after a recent data breach compromised up to 50 million user accounts.
UK retail giant Tesco was issued with a hefty fine of its own by the Financial Conduct Authority (FCA). It was ordered to pay £16.4million due to unacceptable security vulnerabilities on their systems which resulted in thousands of their customers losing a total of £2.26million.
More information can be found at:
ICO (Facebook): ico.org.uk
The Register (Tesco): www.theregister.co.uk