MILAN – Italian privacy regulators announced Monday they have levied a substantial financial penalty against Intesa Sanpaolo, the nation’s largest banking institution, following a significant customer data security violation.
The data protection authority imposed a 31.8 million euro fine, equivalent to approximately $36.41 million, on the major financial institution. The security breach compromised personal information belonging to roughly 3,500 bank customers and extended across a two-year timeframe.
The substantial penalty reflects Italian authorities’ commitment to enforcing strict data privacy standards for financial institutions handling sensitive customer information.
