PCI warns new EU data protection regulation could result in £122 billion in fines

  Image Source: Google Images

Image Source: Google Images

The Payment Card Industry Security Standards Council (PCI SSC), a coalition of credit card issuers including American Express, Mastercard and Visa, has released new information that should act as a warning to any business that accepts credit cards in the EU. By 2018, the new European Union General Data Protection Regulation (GDPR) will go into effect, bringing with it very hefty financial consequences for companies that fail to to comply.