Fines from the ICO against UK companies last year would have been £69m rather than £880,500. Currently the ICO can apply fines of up to £500,000 for breaching the Data Protection Act 1998. However once the General Data Protection Regulations ( GDPR) comes into force on 25 May, 2018, there will be a two-tiered sanction. Potentially up to £10 million or 2% of turnover or for the more serious violations it will be fines up $20 million euros or 4 per cent of GLOBAL turnover (whichever is greater).
Ouch this would have caused severe implications for TALK TALK for example. Ouch.