Equifax has been fined £500,000 by the Information Commissioner’s Office after the company failed in its duty to protect personal data after a major security breach affected the personal data of 15 million UK citizens.

The ICO stated: “The loss of personal information, particularly where there is the potential for financial fraud, is not only upsetting to customers, it undermines consumer trust in digital commerce.

This is compounded when the company is a global firm whose business relies on personal data.

We are determined to look after UK citizens’ information wherever it is held. Equifax Ltd has received the highest fine possible under the 1998 legislation because of the number of victims, the type of data at risk and because it has no excuse for failing to adhere to its own policies and controls as well as the law.”