According to InfoWatch, the number and amount of fines imposed for the leakage of personal data in companies around the world are growing. Thus, in 2017, organizations paid about $ 45 million in fines for personal data leaks, and in 2018 the figure was already $ 320 million.
Thus, over the year, the global amount of monetary sanctions for financial information leaks increased sevenfold, and the average amount of the fine increased fivefold to $ 5.7 million.
According to InfoWatch experts, companies will continue to strengthen the security loop by implementing data leakage prevention systems and predictive analytics technologies.
In May 2018, in the European Union, a new personal data protection policy in the EU GDPR (General Data Privacy Regulations) entered into force. The new regulation obliges companies to set consumer-oriented personal data protection settings.
In particular, users will receive the right to completely delete personal information, and for the use of personal data of persons under the age of 16 years, permission from parents or guardians will be required. In case of violation of the requirements of the regulations of the company can be fined up to 20 million euros, or up to 4% of annual turnover, depending on the severity of the violation.