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August 23, 2019

Bedford estate agents warned about data after £80,000 ICO fine – Bedford Independent

July was a busy month for the Information Commissioners’ Office (ICO), with ‘intention to fine’ notices being issued to British Airways and Marriott Hotel Group for a combined £282m – the first under the GDPR.

Data privacy professionals have welcomed the publicity around this action but do warn that it doesn’t mean fines issued under the 1998 Data Protection Act are any less important and can be ignored.

“The fines off the back of investigations from pre-GDPR breaches should be viewed as a louder warning shot to smaller, more localised businesses,” says Andy Chesterman at Bedford-based GDPR consultancy, Privacy Helper by DAMM Solutions.

A [...]

 
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August 8, 2019

New Jersey Issues Stop Orders to Two ICOs in Operation Cryptosweep

The Bureau of Securities in New Jersey has issued two emergency orders to the companies Zoptax and Unocall to end their initial coin offerings (ICOs). The Bureau alleges that the token offerings qualify as fraudulent unregistered securities offerings.

The Office of the Attorney General in New Jersey announced the Bureau’s orders in a news release on Aug. 7. In the case of Zoptax, the report states that the company is offering the cryptocurrency Zoptax Coins through a website-conducted ICO. The website apparently states that the ICO has a soft cap of $500,000, as well as a hard cap goal of $3.4 million. 

In addition to being unlawfully [...]

 
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August 6, 2019

The ICO and its international chums raise concerns over Facebook’s Libra crypto

THE INFORMATION COMMISSIONER’S OFFICE (ICO) has become the latest watchdog to raise an eyebrow at Facebook’s s Libra cryptocurrency creation.

The Information Commissioner herself, one Elizabeth Denham, signed a statement along with fellow data protection bodies from other nations, including the US, EU, Canada and Australia, raising concerns about how Libra will ensure its future users’ data is protected.

The statement has not only been levied at Facebook but also the 28 other companies involved in setting up the Libra cryptocurrency.

“The ambition and scope of the Libra project has the potential [...]

 
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July 11, 2019

GDPR superpowers lead to whopper ICO fines for BA, Marriott – Naked Security

Initial Coin Offerings (ICOs) were a relatively new phenomenon, but have quickly become a dominant topic of discussion among the blockchain community and accountants.

Brace yourself, o ye spillers of data: the fury and the might of the GDPR has been unleashed this week, and lo, it is mighty, scary, and really, really expensive.

The UK’s Information Commissioner’s Office (ICO), pumped up with its newfound General Data Protection Regulation (GDPR) legal testosterone, has plans to uber-fine both Marriott and British Airways (BA) for data breaches.

On Monday, the ICO said that it’s looking to fine BA a record £183.39 million (US $229.34 million) [...]

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