Tsaaro, a leading data privacy and cyber security services provider revealed the key findings of its survey on the penalties under GDPR and its enforcement trends wherein the penalties imposed on the META platforms contribute 82.6% of the total fines. The Privacy Fines Report 2022 is the first of its kind that adopts a bird’s eye view of privacy fines and analyses them as a whole. For the purpose of the report, Tsaaro has analyzed approximately 500 fines & penalties that data protection authorities within the EU have imposed under the EU GDPR. Tsaaro also cautions Indian corporates of a similar leak in India which is currently not reported or assessed but with structures in place, India will be seeing a similar story in the EU.
Furthermore, the fines on privacy not only seek to rectify wrongs committed but also set a precedent for corporations as it depicts that privacy breaches are not to be taken lightly and non-compliance would put them in hot water with the authorities. With this initiative, Tsaaro Solutions with its first annual Report on Privacy Fines (2022) aims at being informational not just to consumers, but also to the corporations to whom the compliance measures of GDPR would apply.
Commenting on the same, Akarsh Singh, co-founder, and CEO of Tsaaro, said, “It is always extremely important for corporations and consumers to be acquainted from time to time with the facts and realities of the rapidly developing world which is taking place at the expense of personal data – a fact that is often hidden in plain sight. Our commitment to privacy is the cornerstone of what we do at Tsaaro and therefore the First Annual Tsaaro Report on GDPR Fines & the Privacy Landscape of 2022 is a product of the same commitment.
Additionally, the report also takes an industry-specific approach to provide an overview of the industries with the maximum number of violations. It provides insight into the countries which topped the chart with the highest aggregate penalties; and throws light on the GDPR articles which were infringed on the most.