A government fact sheet on the ‘UK-US data bridge’ for international transfers is here.
Our November 2018 and May 2019 Risk Updates discussed the £500,000 monetary penalty imposed by the Information Commissioner’s Office on Equifax which related to international transfers and a data breach at the UK company’s US parent company. The Financial Conduct Authority has now fined the company £11,164,400 for failing to manage and monitor the security of UK consumer data and the manner in which it handled the matter post-breach. Law firms could be similarly exposed to SRA action in such circumstances.
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