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Korea raises data breach fines to 10% of revenue

339 points · 115 comments · throw7

  1. jmclnx · · focus · HN ↗
    Sounds great if all the following is true.

    * Before Tax Revenue

    * If the company is owned by another company, the revenue is the total of all companies owned by the highest level parent.

    * Includes Worldwide Revenue

    * Includes companies based in all other Countries.

    I would have went for 20%, but if he above applies I wish the US would do the same.

    1. zelphirkalt · · focus · HN ↗
      The US is probably among the countries, where the lobbying against such a law or policy would be very severe, because multiple of their tech giants are built on the foundation of abusing people and considering fines to be cost of business.
    2. someguynamedq · · focus · HN ↗
      Why is mishandling data tax deductible?
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