Companies behind major negligent data leaks can now face fines of up to 10 percent of annual revenue under revised privacy rules.
  • unexposedhazard@discuss.tchncs.deEnglish
    10·
    2 months ago

    Starting Friday, companies found to have leaked the personal data of 10 million or more people through intent or gross negligence can be fined up to 10 percent of their total revenue

    Remains to see how “gross negligence” is going to be laid out in practice.

    • gole@lemmy.zipEnglish
      4·
      2 months ago

      There are actually pretty good precedents for that. All three major phone companies have been breached. The government has been breached (then someone started a datacenter fire to cover it up). The largest online retailer has been breached. Basically everyone’s info is floating around somewhere.

      And seeing how much care they put into software here, I think that will happen again. This law is not intended to fix that, it is to punish the retailer above.

      The owner still hides in the US, pretend he is a foreigner and ignore Korean parliament summons, then cries “discrimination”. They still aren’t fined anything more than a year later. Meanwhile actual foreigners gets an entry ban immediately if they evade police.