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Impending Data Protection Laws Place EU Operators At Risk

Gambling operators are going to be facing harsher fines for data breaches when the EU’s General Data Protection Regulation (GDPR) comes into force next May, with marketing practices the area where new rules are likely to have the most profound effect.

A report from consultancy Consult Hyperion published in mid-June suggested the European banking sector was ill-prepared for the changes that will be brought in by the full implementation of the GDPR.

The report argued that banks are underestimating the impact of the new regulations on their businesses, and with companies that fall foul of the new regulations liable to fines of up to €20m, or 4 percent of global turnover, it suggested the financial services sector could be facing a multi-billion euro hit.

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