Tsaaro Issues Warning to Indian Corporates: Get Ready for GDPR-Like Penalties

New Delhi; 13 February 2023: Tsaaro, a premier provider of data privacy and cybersecurity services, has unveiled the results of its survey on GDPR penalties and enforcement trends. The study found that penalties imposed on META platforms account for 82.6% of all fines. The Privacy Fines Report 2022 provides an in-depth look at privacy fines and is the first of its kind to examine them as a whole. Tsaaro analyzed approximately 500 fines and penalties imposed by EU data protection authorities under the EU GDPR. The company also warns Indian businesses of a potential privacy breach, which has not been reported or assessed, but is likely to occur given the current structures in place.

Additionally, the fines on privacy are not only intended to correct wrongs but also serve as a warning to corporations that privacy violations are

not to be taken lightly. Non-compliance can result in significant consequences. Tsaaro Solutions’ first annual Privacy Fines Report (2022) aims to provide not only consumers but also corporations with valuable information on the compliance measures of GDPR. The report seeks to educate and inform businesses about the importance of protecting personal data and the consequences of non-compliance.

Commenting on the same, Akarsh Singh, co-founder, and CEO of Tsaaro, said, “It is always extremely important for corporations and consumers to be acquainted from time to time with the facts and realities of the rapidly developing world which is taking place at the expense of personal data – a fact that is often hidden in plain sight. Our commitment to privacy is the cornerstone of what we do at Tsaaro and therefore the First Annual Tsaaro Report on GDPR Fines & the Privacy Landscape of 2022 is a product of the same commitment. 

Furthermore, the report also delves into the industry specific violations by offering a comprehensive overview of the sectors with the maximum number of breaches. It sheds light on the nations that recorded the highest cumulative penalties and highlights the most frequently violated GDPR articles.

Key findings:

  • 82.6% (697 million) of the total fines account on the META platforms
  • Media, Telecom & Broadcasting Industry Accounted for about 86% of the total fines
  • In the Finance, Insurance & Consulting sectors, roughly 26% violated Article 5 of the GDPR
  • Nearly 29% of the penalized companies in the Transport & Energy sector violated Article 6 of the GDPR
  • Public Sector Entities & Educational Institutions were heavily penalized, contributing to about 10% of the total fines imposed
  • In 2018, there were 12 penalties with €500,000
  •  In 4 years, the penalties increased to 166x times 
  • In 2022, the penalties increased to 440 with €831,258,610
  • It is possible to be fined up to 20 million euros for particularly serious violations listed in Article 83(5) GDPR, or up to 4 of the preceding fiscal year’s total global turnover for undertakings
  • A lesser-severe violation is defined in Art. 83(4) GDPR as one that may result in a fine of no more than 10 million euros or 2% of a company’s worldwide sales during the preceding fiscal year, whichever is higher
  • Top 5 provisions for which organizations were penalized were Articles 5, 6, 12, 13, 32

Click here to get access to Tsaaro’s report.

Most Popular

More from Author

Read Now

Gamoski Networks Unveils Natural8 India with Five Freeroll Tournaments and an INR 28.44 Lakh Prize Pool

- Spearheaded by Kunal Patni and World Series of Poker (WSOP) Bracelet winner Nikita Luther, the platform introduces the internationally acclaimed Natural8 brand to India, with the aim of providing top-tier online poker experiences. Gamoski Networks has made a significant entrance into the Indian iGaming landscape with the...

Boon Collaborates with Niti Aayog to Revolutionize Water Resource Management

AatmaNirbhar Bharat: Boon's Partnership with Niti Aayog for Water Innovation

G20 Sidelines: Saudi Arabia displays Vision 2030, hosts ‘Media Oasis’ in Delhi

Discover how Saudi Arabia is showcasing Vision 2030 on the G20 stage. Join us at 'Media Oasis' in Delhi.

Celebrating World EV Day: Insights from Visionary Entrepreneurs

World EV Day, observed annually on September 9th, is a global celebration that highlights the significance of sustainable electromobility and recognizes the growing community of electric vehicle (EV) enthusiasts and owners worldwide. This day serves as a reminder of the pivotal role electric vehicles play in reducing...

Startup Odisha’s Yatra and Xpress 2023: Shaping the State’s Startup Ecosystem

Igniting Entrepreneurship: Startup Odisha's 2023 Initiatives Transforming the Landscape.

NAREDCO Maharashtra Unveils India’s First RealTech Fund at The Real Estate Forum 2023

RealTech Fund Inauguration at The Real Estate Forum 2023 by NAREDCO Maharashtra

How this Pune-based Startup is Transforming Healthcare Delivery

From Pune to the World: A Startup's Impactful Journey in Healthcare Transformation.

Zebronics Redefines Home Audio with ZEB-Juke Bar 1000 and Dolby Atmos

Zebronics presents the ZEB-Juke Bar 1000 with Dolby Atmos, a compact soundbar with a powerful punch.

Edtech Startup Codevidhya Raises Undisclosed Amount from Investors

New Delhi, Delhi, India | 29th August 2023: Founded by Shiv Ram, Codevidhya in July 2023 raised undisclosed sum  of funding from HNI Investors and existing investors to empower and upskill students across ages and geography through new age learning techniques using a phygital model that complements the school curriculum. Codevidhya,...