Under the new rules, the Information Commissioner’s Office (ICO) is able to fine businesses up to GBP500,000, equivalent to 10 per cent of the highest annual turnover of a small company, if they lose individuals’ confidential data. Previously the ICO had the power to fine just GBP5,000 for serious breaches of the Data Protection Act, but these new measures are expected to act as an effective deterrent …[more]