ICO Yet To Fine for a Data Breach
PRIVACY LAW—UKOctober 12, 2010
It's been six months since the Information Commissioner's Office (ICO) has had the power to issue fines of up to £500,000, but it has yet to collect such a fine, SC Magazine reports. One company's CEO said he believes that the ICO raised awareness about data losses by introducing the new fine but that people are starting to wonder if they'll ever make use of it and, as a result, aren't taking data loss as a serious threat. "Personal customer data should be of utmost importance to any company, so if it's not the fear of losing their reputation that makes them invest in encryption, it has to be the threat of a significant fine."