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Korea raises data breach fines to 10% of revenue

339 points · 115 comments · throw7

  1. augment_me · · focus · HN ↗
    You can just do what my university did, hire a small shell firm with 3 employees to hold all your data, and when it got hacked they just went bankrupt and we switched to a new shell firm with similar form and function.

    Minimizes money usage and does not require any security investments

    1. louthy · · focus · HN ↗
      Or … and hear me out on this one … care?
      1. AIiscoming · · focus · HN ↗
        Lets be honest here, this is a business risk which is crazy high. As stupid as this is, I care but i can't guarantee it.

        I might suggest a construct like this too.

        What do you think how much it cost to do it perfect?

        1. deepsun · · focus · HN ↗
          But it does create an incentive to not keep data that a company doesn't really need. And that incentive already works with GDPR for PII.

          This measure add similar incentive for data breaches.

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