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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 4 most recent headlines Filtered view

Chief quits, pays own penalty after helping crooks launder cash, aiding sanctions evaders The world's largest cryptocurrency exchange just got a little smaller, with the US Department of Justice announcing Binance and its CEO Changpeng Zhao have both pleaded guilty to a multitude of financial crimes. As a result Binance will fork out $10 billion to Uncle Sam in fines and settlements.…

Bank Info Security 2 years, 7 months ago

Binance Chief Resigns in Money Laundering Plea Deal

World's Largest Cryptocurrency Exchange Will Pay $4.3 BillionBinance Chief Executive Changpeng Zhao will plead guilty to violating anti-money laundering statutes in U.S. federal court in a settlement ending an investigation into illicit transactions at the world's largest cryptocurrency exchange. The company will pay $4.3 billion in fines and forfeiture.

Bank Info Security 2 years, 7 months ago

Hospital Pays Fine for Disclosing Patient PHI to Reporter

HHS HIPAA Settlement With Yonkers, NY Facility Also Includes Corrective ActionFederal regulators have smacked a New York medical center with an $80,000 penalty as part of a settlement for a HIPAA privacy breach involving the information of three patients that was exposed to a reporter and distributed nationally during press coverage in the early days of the COVID-19 pandemic.