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Companies Could Face $22 Million Fine If They Fail to Protect Against Hackers

Companies Could Face $22 Million Fine If They Fail to Protect Against Hackers

August 09, 2017Swati Khandelwal
Over the past few years, massive data breaches have become more frequent and so common that pretty much every week we heard about some organisation being hacked or hacker dumping tens of millions of users records. But even after this wide range of data breach incidents, many organisations fail to grasp the importance of data protection, leaving its users' sensitive data vulnerable to hackers and cyber criminals. Not now! At least for organisations in Britain, as the UK government has committed to updating and strengthening its data protection laws through a new Data Protection Bill. The British government has warned businesses that if they fail to take measures to protect themselves adequately from cyber attacks, they could face fines of up to £17 Million (more than $22 Million), or 4% of their global turnover—whichever amount is higher. However, the financial penalties would be a last resort, and will not be applied to those organisations taking proper security measures
China Passes Cybersecurity Law to Tighten its Control over the Internet

China Passes Cybersecurity Law to Tighten its Control over the Internet

November 07, 2016Swati Khandelwal
China has long been known for its strict censorship policies, which has already made it difficult for foreign companies to do business in the world's most populous country of more than 1.35 Billion people. Now, the Chinese government has approved a broad new controversial cybersecurity regulations that would further strengthen the country's censorship regime, making it more difficult for technology companies to operate in the country. Made public on Monday, the legislation, passed by China's rubber-stamp parliament and set to go into effect in June 2017, aims at combating growing threats like hacking and terrorism, but actually comes with data localization, real-name requirements, and surveillance. The Cybersecurity Law requires instant messaging services and other internet operators to force users to register with their real names and personal information, which restricts anonymity of a user online. The proposed law also includes requirements for ' Data Locali
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