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£183.4 million fine to British Airways for failing to protect customer data

The UK data protection authority (ICO) has defined a 1,5% of global revenue fine over British Airways following a hacking of 500000 accounts.

The record 183.4 million pounds fine comes as the first data protection related fine of such impact.

The Information Commissioner Office (ICO) imposed a fine over 2017 global revenue accusing British Airways of having failed to protect personal data.

The airliner noted that no criminal activity has been linked to the hacked accounts and that the will take appropriate action against the administrative action.

According to specialists, the fine will be covered by the airline’s liquidity, but remains a significant punishment anyhow.

A number of European data protection agencies have made statement in relation to the first anniversary of the General Data Protection Regulation (GDPR), advising that enforcement will come in a significantly more strong way as from such anniversary.

Source

https://uk.reuters.com/article/uk-iag-cybercrime-ico/british-airways-faces-record-183-4-million-pounds-fine-over-data-theft-idUKKCN1U30IR

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.

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