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Korea raises data breach fines to 10% of revenue

339 points · 115 comments · throw7

  1. hn_submit · · focus · HN ↗
    This is exactly what we need in the West! I have a strong suspicion that nobody here actually cares about security or customer data being spilled into the streets.

    Security costs money and as long as there aren't any penalties for negligence management will make the calculation to prioritize increased profitability over securing company data.

    1. tstenner · · focus · HN ↗
      This is exactly what the GDPR does (except it's 4%, not 10%).
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