Read Bennett Gold LLP's privacy policies and practices regarding this web site.
LINK TO: Bennett Gold LLP's Privacy Policies and Practices. E-CommerceALERT.com is part of the Bennett Gold LLP web site network.
LINK TO: Bennett Gold LLP, Chartered Accountants, home page.
LINK TO: E-CommerceALERT.com Home Page.
CLICK to GO BACK to Main Page.

Research and retrieval of news articles by Bennett Gold LLP, Chartered Accountants


SPECIAL NOTE TO ALL VISITORS:
Effective December 31, 2012, articles are no longer being updated on this web site.
The site is now maintained as an historical archive, covering articles from the period 1999 to 2012.


EU BETTING ON MEGA FINES FOR PRIVACY BREACHES

Source: IT Pro

Posted on December 12, 2011

The European Commission is finalising proposals that would enable it to fine businesses up to five per cent of global turnover for significant privacy breaches, according to a report.

The plans are due to be unveiled next month and will mark a big moment in the history of data protection and the first major update of legislation on the issue since 1995, the Financial Times reported.

For bigger companies like Google or Facebook, which have both faced privacy probes in recent times, fines could extend into the billions.

National governments will have to agree to the proposals before any rules are enforced. It may be four years until EU-wide legislation is made official. Under the rules, companies would also be forced to notify regulators and affected people within 24 hours.

Various cases over the past year have highlighted the damaging effects of not confessing to breaches early. RSA came under fire after it took two months to admit data on its SecureID tokens may have been compromised.

The draft document seen by the FT also indicated the EU is looking to enforce better data protection practices within companies.

The document called for companies with 250+ employees to have employees dedicated to data protection practices. This may mean a rise in the number of chief information security officers (CISOs).

Sony only recruited a CISO following the significant hacks earlier this year, which saw over 100 million customers' data compromised.




CLICK to GO BACK to Main Page.

E-Commerce Alerts are issued by Bennett Gold LLP, Chartered Accountants as situations develop. Bookmark this site and check back often. Our e-mail address is: info@BennettGold.ca

In accordance with United States Code, Title 17, Section 107 and Article 10 of The Berne Convention on Literary and Artistic Works, the news clippings on this web site are made available without profit for research and educational purposes.


ALERT
ARCHIVES
Final Entries
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999


LINK TO: Bennett Gold Chartered Accountants: A Licensed Provider of WebTrust Services.

WebTrust Is Your
Best Defense
Against
Privacy Breaches.

Get WebTrust
Working For
Your Site.