British Organizations Could Face Massive Fines for Cybersecurity Failures

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British Organizations Could Face Massive Fines for Cybersecurity Failures

By CircleID Reporter
August 08, 2017, 1:30 pm PDT Views: 6,610 Add Comment

Organizations who fail to implement effective cybersecurity measures could be fined as much as £17 million or 4% of global turnover, as part of Britain’s plan to prevent cyberattacks that could result in major disruption to services such as transport, health or electricity networks. The Guardian reports: “The move comes after the [National Health Service] NHS became the highest-profile victim of a global ransomware attack, which resulted in operations being cancelled, ambulances being diverted and patient records being made unavailable. ... The issue came to the fore again after a major IT failure at British Airways left 75,000 passengers stranded and cost the airline £80m… The consultation will also focus on system failures, with requirements for companies to show what action they are taking to reduce the risks.”

By CircleID Reporter — CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.
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