A data breach affecting over 1.5 million individuals could lead to significant financial penalties for municipalities, regions, and companies. The Swedish Authority for Privacy Protection (IMY) may impose fines up to ten million kronor on public entities, while companies could face penalties of up to 20 million euros. Experts warn that the greatest cost may be the loss of public trust.
Potential Million-Euro Penalties Loom After Data Breach
Potential Million-Euro Penalties Loom After Data Breach
Municipalities, regions, and companies face potential multi-million euro sanctions following the leak of data on over 1.5 million individuals during a cyberattack on Miljödata.
If the Swedish Authority for Privacy Protection (IMY) decides to impose sanctions, the cost for public entities could reach up to ten million kronor, reports Sveriges Radio's Ekot.
"For companies, it could be up to 20 million euros, or 4 percent of the global annual turnover, whichever is greater," says Olle Pettersson, a lawyer at IMY, to the radio.
Meanwhile, IT security expert Anne-Marie Eklund Löwinder emphasizes that the heaviest cost is of a different nature.
"No sanctions in the world will be able to repair the damage caused to many people. In terms of public administration, I believe the most costly aspect will be the loss of trust," she says.