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If you are a local council or charity a fine of tens or hundreds of thousands will be difficult but not for a firm with over a billion in revenue, an entire PR department and thousands of staff. The ICO has only been issuing fines for about five years and so far, it has not issued many.
TalkTalk was allegedly penetrated through a SQL injection attack, this attack type has been around for years and according to reports, Sony was hit around five years ago. Being well known you would think TalkTalk would have tried to mitigate it. Poor security maybe but others are likely the same.