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Background for this topic.

A fine is a monetary penalty imposed by a competent authority or court for violating a law, regulation, or legally binding requirement. In information security and privacy, it may follow inadequate safeguards for personal data, unlawful processing, failure to meet required reporting or record-keeping duties, or non-compliance with sector-specific controls. The legal basis, maximum amount, and factors such as severity, duration, negligence, cooperation, and remediation vary by jurisdiction; a fine is generally punitive rather than compensation for affected parties.

For security practitioners, a fine signals that controls and security decisions may be examined as evidence of compliance. Maintain documented risk assessments, access reviews, patching decisions, supplier oversight, logging, and retention practices, especially where they protect regulated data. During an incident, preserve relevant records and establish an accurate timeline for containment, notification, and remediation. Privacy requirements such as data minimization and retention limits can therefore be security controls as well as legal obligations. A fine does not by itself establish that a particular attack or breach occurred.

Showing 7 most recent headlines Filtered view
Bank Info Security 9 months, 1 week ago

Reading the Fine Print When Managing Vendor Risk

Risk and Compliance Review Professionals Can Save Millions and Help Avoid BreachesRisk and compliance review requires more than just checking off boxes. It involves understanding what the fine print reveals about how a vendor protects data, manages incidents and upholds contractual obligations. Professionals who review contracts become trusted voices in procurement and security.

Australian Clinical Labs Ordered to Pay $3.8 Million Over Pathology Unit Data TheftAn Australian court has fined a medical lab $5.8 million for cybersecurity failures leading up to - and following - a 2022 cyberattack that affected 223,000 patients. The penalty marked the first time Australia has levied a civil monetary fine for violations of its Privacy Act of 1988.

Bank Info Security 9 months, 1 week ago

Australia Levies First-Ever Privacy Act Fine in Lab Breach

Australian Clinical Labs Ordered to Pay $5.8M in Data Theft at Medlab Pathology UnitAn Australian court has fined a medical lab $5.8 million for cybersecurity failures leading up to - and following - a 2022 cyberattack that affected 223,000 patients. The penalty marked the first time Australia has levied a civil monetary fine for violations of its Privacy Act of 1988.

Bank Info Security 9 months, 1 week ago

Reading the Fine Print When Managing Vendor Risk

Risk and Compliance Review Professionals Can Save Millions and Help Avoid BreachesRisk and compliance review requires more than just checking off boxes. It involves understanding what the fine print reveals about how a vendor protects data, manages incidents and upholds contractual obligations. Professionals who review contracts become trusted voices in procurement and security.

How recycled passwords and poor security habits are fueling a cybercrime gold rush Partner Content If you're still using "password123" for more than one account, there's a good chance you've already exposed yourself to credential stuffing attacks — one of the most prevalent and damaging forms of automated cybercrime today. Just ask the 6.9 million users of 23andMe who discovered their personal details were compromised when cybercriminals used recycled credentials from other breaches to infiltrate their accounts.…

Bank Info Security 9 months, 1 week ago

EyeMed Agrees to Pay $5M to Settle Email Breach Litigation

2020 Hack Has Cost EyeMed About $12.6M in Multiple Regulatory Fines, SettlementsBenefits provider EyeMed Vision Care has agreed to pay $5 million and improve its security practices to settle class action litigation involving a 2020 phishing breach. The incident has been the subject of previous multimillion dollar settlements and enforcement actions by multiple state regulators.