- Enforcing jurisdiction
- Cyprus · Geography does not establish applicable law.
- Confirmed applicable legislation
- Privacy topics
NAGA Markets Europe Ltd – €9,000 Fine (Cyprus, 2023)
Privacy enforcement record
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NAGA Markets Europe Ltd was fined EUR 9,000 after a data breach exposed the information of about 342,000 customers. This incident matters because it shows the importance of protecting customer data. Companies must implement strong security measures to prevent breaches and protect user information.
What happened
NAGA Markets Europe Ltd was fined for failing to protect customer data, leading to a data breach.
Who was affected
Approximately 342,000 customers whose data was compromised were affected.
What the authority found
The Cypriot DPA found that NAGA Markets Europe Ltd did not take adequate measures to safeguard personal data, violating GDPR.
Why this matters
This case highlights the need for companies to strengthen their data security practices. Businesses should regularly assess their security measures to protect customer information.
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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
About this data
Cite as: Cookie Fines. NAGA Markets Europe Ltd - Cyprus (2023). Retrieved from cookiefines.eu
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