In January the European Union commission on data protection is intending to publish proposed legal changes that will have huge potential fines attached. Companies found to be mishandling personal data can be fined up to 5% of global turnover. This means we could see fines entering the billions of euro’s for global organisations. This is similar to what has already happened with competition regulations.
This proposal will mean that companies larger than 250 employees will need to have dedicated resources allocated to data protection.