The amount of fines being issued by the Information Commissioner’s Office (ICO) for data breaches is rapidly increasing.
The ICO has more than 60 different monetary penalties in place which can be actioned when an organisation fails to protect its data, with the biggest fine being up to £17m or four per cent of annual turnover (depending on which one is the largest!).
Our Managing Director Paul Wallis, also our privacy information management expert, is warning business owners that the biggest threat of a breach, and therefore the huge fines that result from a breach, are from within an organisation. They are often the result of insufficient staff training and awareness.
Many organisations do not know how to spot a potential ransom attack or do not realise the potential consequences of their non-deliberate actions, putting itself at a higher risk of being fined by the ICO. But to reduce the risks of fines, it is vital for business owners to implement robust industry standard management systems (ISOs).
ISO systems are good business practice and ensure organisations have policies and procedures in place which reduce business errors that could lead to extremely large fines from the ICO.
If a business is caught out by the ICO it could have very serious consequences for the organisation and its staff. The biggest mistake we all make in life is thinking that it will never happen to us. Be sure to protect yourself and business wherever possible!
Paul has recently enhanced his expertise in GDPR and Data Protection issues through a privacy management development course which ensures he is best qualified to advise clients or businesses of the steps they need to take to maintain compliant.
Please get in touch here if you would like more information about how to protect your business.