this post was submitted on 30 Mar 2024
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Why companies aren't fined for every customers data they didn't secure properly is beyond me. This should cost them a specific sum per customer or part of their annual global revenue. Make it hurt.
Otherwise they have no reason to spend money to properly secure people's data.
Devils advocate: It would give them additional insensitive to cover up the fact it happend.
My 2 cents: companies cant be trusted with your data and local data containers which you control, can give or reject limited acces to need to become the norm.
Cant cover it up if the hackers take credit. And with the info collected it won't take much time to pin point where it came from.
Its happened before that leaks where covered up for months though, gives them time to sell stocks before public backlash .
I mean yeah it probably would. But that's essentially just blackmail.
For there should be is an entire branch of government dedicated to regulating and auditing data security in large corporations.