GDPR violators pay fines exceeding $1 million daily in 2024 – London Business News | Londonlovesbusiness.com

European countries have continued fervently pursuing the implementation of General Data Protection Regulations (GDPR), with violating companies paying more than $1.2 million each day in penalties on average through the first 120 days of 2024, according to the data compiled and analyzed by Finbold.

The cumulative penalty sum – totaling just under $150 million – was spread between 76 separate fines, though more than one-half of the total sum – $86 million – was paid by Enel Energia, an Italian energy company.

The firm was penalized primarily due to illicitly acquiring the personal information of several hundred people for telemarketing purposes.

Other major violators include Amazon France Logistique—found responsible for infringing on their workers’ privacy and fined nearly $35 million—and Avast Software, which was fined $15 million by the Czech government for handing users’ data to an external, personalized marketing company.

Largest fines penalise years-old illicit activity

Interestingly, many of the biggest data privacy and security violations penalized in 2024 occurred between 2018 and 2020, demonstrating the vast backlog of issues European watchdogs are dealing with.

In the report, Andreja Stojanovic, market analyst at Finbold, said, “Ultimately, while the actions of European law enforcement since the start of 2024 highlight the bloc’s commitment to ensuring data security and privacy for the people of Europe, the timing of many of the most severe violations showcases the scale of the issue and hints toward possible deficiencies in the system given the apparent tardiness of the fining.

The matter is especially pointed given that the GDPR was passed, in part, to streamline data protection enforcement and expedite the regulators’ efforts.”

Nonetheless, the substantial amount of money levied by law enforcement serves as a warning for any companies that would infringe on the privacy of individuals within Europe and highlights the regulators’ commitment to fully implementing GDPR.