The proposed introduction of fines of up to £500,000 for firms that suffer serious data losses could provide a windfall for security resellers, according to commentators in the channel.
Pending parliamentary approval, the Information Commissioner will from 6 April be able to impose a penalty of up to £500,000 on data controllers who seriously contravene data protection principles.
Law firm Cobbetts said the new powers would act as a “wake-up call” for UK firms, particularly those in the notoriously lax mid-market.
“These new fines will have a profound impact on internal procedures,
at medium-sized, data-rich businesses, whose growth commonly outmatches their internal development and the maintenance of procedures,” said Susan Hall,
partner and IT specialist at Cobbetts.
Dave Ellis, e-security director at security distributor Computerlinks, agreed: “Mid-market firms have not been under as much pressure so this should open up some good opportunities.”
Justice minister Michael Wills said: “Since misuse of even small amounts of personal data can have very serious consequences, it is vital that we do all that we can to prevent non-compliance.”
View pictures of all of last night's fights
Acquisitive comms provider swoops on Frontier Voice & Data and StoneHouse Logic
Cybersecurity firm rakes in £3.6m for unwanted unit
Results, reaction and pictures from last night's CRN Fight Night