NCC Group has released the second edition of its Cyber Policy Radar report. According to the company, the document provides insight into key regulatory changes and policy developments that organizations need to be aware of for the remainder of 2024, with a spotlight on data privacy.
Key Takeaways
- 2,700 fines related to data privacy have been issued since 2020, totaling €6.6 billion
- Of the total fines, 72 have been issued in the U.S., with 14 in the U.K. and over 840 in Spain
- Social media, e-commerce, and technology firms face an average fee of €59.3 million, €11.5 million, and €7.9 million, respectively
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On Record
In a recent quote, Kat Sommer, Group Head of Government Affairs at NCC Group, said, “In today’s rapidly evolving cyber landscape, staying informed is crucial. Our Cyber Policy Radar delves into the latest developments in cyber regulations, offering insights that are essential for navigating the complexities ahead.”
“Governments are enacting plans to harmonize cyber rules. However, the remaining fragmentation and barriers to implementation mean that regulated organizations will have to continue navigating complex and overlapping regulations for some time to come. Responsibility—and, in some cases, liability—is being firmly placed on senior leaders. It’s therefore critical that organizations’ C-suite have the information they need to make, justify, and defend decisions about their cyber strategy.”
