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Survey Answer:

Telemedia Law and Telecommunications Act might lead to the responsibility of media authorities (Länder Law) or the Federal Network Agency (Bundesnetzagentur/BNetzA). In case of the financial institution it is the Federal Agency on Finance Service Supervision (Bundesanstalt für Finanzdienstleistungsaufsicht/BaFin). Apart from fines, audit and investigation rights breaches of IT-security duties may also lead to criminal proceedings, starting by activities of the agency and/or the prosecutors and then leading to the ordinary criminal courts.

Provided By:
Michael Schmittmann, Heuking Kühn Lüer Wojtek, Düsseldorf, Germany