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06

New data protection regulation to hit financial services with €4.7bn in fines

Open-access content Thursday 22nd June 2017 — updated 5.50pm, Wednesday 29th April 2020

European financial institutions are forecast to breach incoming General Data Protection Regulation at least 384 times in the first three years of its implementation.

2


That is according to a new report from Consult Hyperion, which predicts that fines could reach €4.7bn (£4.14bn) during that time. Read the full article on our Predictions site here

This article appeared in our June 2017 issue of The Actuary.
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