Lessons must be heeded following the Carphone Warehouse data hack, as new EU laws regarding such incidents could lead to hefty fines or legal battles for those in the payment space, legal experts have warned.
The Information Commissioner’s Office (ICO) confirmed it is investigating the retailer over an admission that 2.4m customer records and up to 90,000 payment card details had been accessed by criminals.
The regulator could issue a fine of up to £500,000, but with the EU's proposed new General Data Protection Regulation on the way that figure could significantly increase for future breaches.
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