A recent study published by Mazars Ireland found the finance sector has received more EU General Data Protection Regulation fines than any other industry. The fines were in reaction to breaches related to the processing of personal data. There have been 68 fines issued since the GDPR went into effect in May 2018, and 11 of those fines were against the finance industry. The top eight industries that have received fines include professional services, public sector and a five-way tie for fourth place between health care, hospitality, private person, technology and telecommunications. The Czech Republic, Germany and Hungary have issued the most fines. The study also noted that of the 28 EU countries with supervisory authority, eight countries, including Ireland, have yet to administer any GDPR fines.
Full Story