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: 6,511 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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