- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-11-13T18:18:00
The U.K. Information Commissioner’s Office fined Ticketmaster £1.25 million (U.S. $1.6 million) for its failures relating to a 2018 data breach by a third party.
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The threat of fines has done more to focus boardroom attention on data privacy and effective cyber-security than any other measure, U.K. Information Commissioner Elizabeth Denham believes.
A spate of recent cyber-security breaches occurring via third parties is a reminder of the importance for companies to stay on top of risk management. Regulators have shown to not take kindly to finger-pointing.
Recent GDPR fines against British Airways, Marriott, and Ticketmaster by the U.K. Information Commissioner’s Office each saw the regulator dismiss claims by the companies that third parties were primarily responsible for the data breaches in question.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
