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Banks to face fines totalling €4.7bn in first three years under GDPR

A new report from Consult Hyperion, forecasts that European financial institutions could face fines totalling €4.7 billion in the first three years under the new General Data Protection Regulation (GDPR). This forecast is conservative and excludes compensation claims, costs associated with lost customers, damaged reputations and senior executive resignations. The report, commissioned by AllClear ID titled, GDPR: [...]

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