Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

GDPR fines hit €1.5 billion in first half of 2023

by July 13, 2023
July 13, 2023
GDPR fines hit €1.5 billion in first half of 2023

General Data Protection Regulation (GDPR) established by the European Union is a formidable legal framework designed to regulate the processing and transfer of personal data across member states.

According to the data analyzed by the Atlas VPN team, companies had to pay over €1.5 billion in GDPR fines through the first half of 2023. On May 25th, GDPR celebrated its 5th anniversary. Throughout this time, businesses received 1679 fines combining to a sum of nearly €4 billion.

January and May were particularly noteworthy, with nearly €400 million and €1.2 billion in fines, respectively. Interestingly, both months saw fines issued against Meta Platforms which control Facebook, Instagram, WhatsApp, and other apps.

Although March only saw €1.5 million in fines, it was the month when businesses received the most penalties for data violations, with a total of 46 penalties issued.

February was the month with the least amount of fines issued in H1 2023, with only 34 fines accounting for €2.6 million in penalties. Overall, businesses received 237 fines throughout the first half of 2023.

​​Cybersecurity writer at Atlas VPN, Vilius Kardelis, shares his thoughts on GDPR enforcement: “The GDPR fines are significantly impacting how businesses operate and handle data. Companies must prioritize data privacy and security to avoid potential fines and reputational damage. As we move forward, companies must continue investing in their data protection strategies and staying informed about any updates or changes to the GDPR.”
Countries with most GDPR violations

As we delve into the topic of countries with the most GDPR violations, it’s important to note that no country is immune to data privacy issues. However, some countries have had more violations than others.

Since the start of GDPR, Spain has accumulated 689 fines resulting in over €60 million in penalties. While the average of each fine is about €88K, Spanish businesses received more than 2 times the amount of fines than any other country.

Italy’s data protection authorities have issued 284 fines, totaling €133 million in penalties. The average fine here is about €468K. Germany has received the third-highest number of violations, totaling 160. These fines have resulted in penalties of €55 million.

Romania is the last country whose authorities have issued over 100 fines in the 5 years of GDPR’s existence. In addition, Romania has a very low average penalty of only €5390. Greece stands out from the rest of the countries with a high average per fine of €525K.

Read more:
GDPR fines hit €1.5 billion in first half of 2023

0
FacebookTwitterGoogle +Pinterest
previous post
Livid at LIV Golf
next post
FCA warns financial services firms over AI fraud

You may also like

Rishi Sunak to Extend Child Benefit to Higher...

June 7, 2024

UK public borrowing lower than expected in August

September 21, 2023

Hundreds of Married Women Could Receive State Pension...

August 9, 2023

Fashion Cloud receives €25 million investment

December 13, 2022

Emma Bridgewater’s Pottery Empire Faces £1.4m Loss Amid...

June 24, 2024

Tips for Protecting Your Ageing Parents

November 1, 2022

Virgin Money and TSB planning more job cuts

February 7, 2024

Family-owned sports seating firm secures £100k green loan...

January 18, 2023

Post-Brexit Border Delays Threaten UK and EU Horticulture...

July 1, 2024

Macmillan Cancer Support cut 150 jobs amid soaring...

March 15, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Democrats project doom and gloom, not celebration, with July 4 messages

      July 5, 2025
    • Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

      July 5, 2025
    • Tesla sees UK sales rebound in June as EV market accelerates

      July 5, 2025
    • Hived raises $42m to roll out electric delivery fleet across southern England

      July 5, 2025
    • Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

      July 5, 2025
    • “A turning point for education”: James Caan launches bold education reform plan in House of Lords

      July 5, 2025

    Categories

    • Business (8,397)
    • Investing (2,102)
    • Politics (15,947)
    • Stocks (3,190)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved