The Bank of England has already spent £1,590,776 on ensuring it is compliant with General Data Protection Regulation (GDPR), Insurance Age can reveal.
In order to prepare for GDPR the Bank set up a project team to run until January 2019. The figure for the spend as of 1 May includes £127,120 on software and £25,185 on training.
The Bank also detailed, in a response to a Freedom of Information request, that external consultants including employees on fixed term contracts accounted for £492,655
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