NAGA Markets Europe Ltd – €9,000 Fine (Cyprus, 2023)
General GDPR enforcement action
This case relates to broader data protection obligations, not specifically to cookie or consent banner compliance. It is not included in cookie statistics or the Risk Calculator.
NAGA Markets Europe Ltd was fined EUR 9,000 by the Cypriot data protection authority for not having strong enough security measures. This allowed an unauthorized person to access the personal data of about 342,000 customers. The case highlights the importance of protecting customer data to prevent breaches.
What happened
NAGA Markets Europe Ltd suffered a data breach where an unknown person accessed their customer database.
Who was affected
Around 342,000 customers of NAGA Markets Europe Ltd whose personal data was stored in the company's database.
What the authority found
The authority found that NAGA Markets Europe Ltd failed to implement adequate technical and organizational measures to protect personal data, violating GDPR requirements.
Why this matters
This case emphasizes the need for companies to have strong data security measures in place. Businesses should regularly review and update their security practices to protect customer information and avoid similar fines.
GDPR Articles Cited
The Cypriot DPA has imposed a fine of EUR 9,000 on NAGA Markets Europe Ltd. The controller had suffered a data breach in which an unknown person accessed the company's database, holding the data of approximately 342,000 customers. The DPA found that the controller had not implemented appropriate technical and organizational measures to protect personal data, which facilitated such a breach.
Related Enforcement Actions (0)
No other enforcement actions found for NAGA Markets Europe Ltd in CY
This is the only recorded action for this entity in this jurisdiction.
Details
Fine Date
2 May 2023
Authority
Commissioner for Personal Data Protection
Fine Amount
€9,000
Enforcement Tracker ID
ETid-1819
About this data
Cite as: Cookie Fines. NAGA Markets Europe Ltd - Cyprus (2023). Retrieved from cookiefines.eu
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