ICO seeks parity with FSA for maximum fines

Jeremy Phillips

Information Age reports that businesses could be fined 10% of their revenue in respect of data protection breaches if the Information Commissioner’s Office gets its own way. According to the article the ICO is seeking a penalty that matches the maximum punishment the Financial Services Authority can impose on companies that breach financial regulations. This fine would be reserved for companies that commit serious and reckless breaches of the Data Protection Act, resulting in harm to individuals.

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