With GDPR in full effect, Facebooks latest data breach is highlighting the potential costs of GDPR breaches as they are potentially receiving a fine of 1.63 billion dollars.
On Friday the 28th September Facebook were subject to one of the worst data breaches in their history. over 50 millions user accounts were compromised and hackers gained full access to profiles and associated applications through a gap in the code allowing them to use the “view as” feature to bypass security measures and gain access.
The European regulators have not yet used GDPR to levy a physical fine against any company and it is still unclear if they will proceed with the maximum penalty or any penalty at all on this occasion, especially if they determine Facebook “took appropriate steps to safeguard its users’ data before the hack” and “has cooperated or been in at least partial compliance.”.
However, this has shown the power that GDPR now has over companies data handling and if these large organisations do not stay in line, the large fines will start to be issued and followed through. A formal investigation is set to be launched by the Irish Data Protection Commission (IDPC) and delve into the exact cause and outcomes of the breach.