Report Reveals 43% Of UK Finance Brands In Breach Of Data Laws

A new study by digital consultancy 7DOTS found that 43% of UK finance brands are not complying with data protection laws.

The research analysed websites of over 24,000 Financial Conduct Authority (FCA)-regulated firms and found that many access browser storage for advertising or analytics without user consent. Payday lenders had the highest non-compliance rate at 67%, followed by trading venues at 64%. The UK’s Information Commissioner’s Office (ICO) is issuing record fines for GDPR violations.

7DOTS warned that many firms may be unaware of the issue, which could lead to financial and reputational risks. The consultancy urged finance brands to assess their compliance and take corrective measures.

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