Wednesday 23 January 2019

*UKHotViewsEXTRA* Regulators start to get tough on GDPR

GDPRAs predicted by TechMarketView in 2018 (see NEW RESEARCH: Financial Services Predictions 2019) it appears that the European regulators have indeed started to wave the “big stick” under the banner of GDPR. The news that Google has been fined the equivalent of £44m by the French data regulator CNIL seems to back up our theory that, after an initial period of grace, 2019 will be the year when the regulators get tough with organisations that have failed to fully comply with GDPR.

At the end of last year, we further speculated that a large financial services organisation might be the first to suffer the wrath of the data regulators (in part because banks and insurers are known to have deep pockets). It appears that our logic was sound, even if the first high profile, victim of a GDPR clampdown is in fact a technology player, with even deeper pockets.

HV premium logoAs well as the tech giants, financial services firms remain an obvious target for any regulatory sanction. Both because of the vast amounts of client data they hold and because of their financial scale. These factors also make the industry a prime target for criminal activity and the threat of a data breach remains ever present.

TechMarketView clients, including UKHotViews Premium subscribers, can learn more in our HotViewsExtra article, just published: TechMarketView’s GDPR prediction comes to pass.

Posted by Jon C Davies at '06:45' - Tagged: regulation   GDPR   Enforcement