ICO / YouGov poll warns data breach companies face "long-lasting reputational damage"
Published 1 February 2016
What does this cover?
In an ICO press release issued this month, the ICO had some harsh words for companies that “play fast and loose with people’s personal information". Christopher Graham, the Information Commissioner, divulged parts of a speech to be delivered at the Advertising Association’s leadership summit which warned that these companies "risk the wrath of the ICO" and that means fines of up to £500,000. “A heavy fine is bad enough, but the time, energy and money it takes to rebuild customer confidence can be as severe a punishment as the fine itself.”
Graham's words follow a YouGov poll commissioned by the ICO which shows that "20 per cent of people would definitely stop using a company’s services after hearing news of a data breach, while 57 per cent would consider stopping. Only eight per cent said the coverage would make no difference and 14 per cent said they didn’t know".
To view the ICO press release, please click here.
What action could be taken to manage risks that may arise from this development?
None – for interest only.