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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.

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Bank Info Security 1 year, 7 months ago

Cryptohack Roundup: No Prison Time for FTX's Gary Wang

Also: Bitfinex Launderer Razzlekhan Gets 18-Month SentenceThis week, sentences in FTX, Bitfinex and Helix cases, a $25.5M Thala hack, the WazirX hack and South Korea probed UpBit. U.S. lawmakers want a crackdown on Tornado. U.S. Prosecutors may scale back crypto cases. BIT Mining fined $10M and the Chinese Communist Party expelled a key blockchain figure

Bank Info Security 1 year, 7 months ago

Feds Fine Mental Health Clinic $100K in 2020 HIPAA Case

LA County Clinic Delayed Access to Patient's Medical Records During PandemicFederal regulators have fined a Los Angeles county mental health clinic $100,000 for failure to provide a patient with timely access to her requested health records during the COVID-19 pandemic. The case is the U.S. government's 51st HIPAA patient right-of-access enforcement action.

Bank Info Security 1 year, 7 months ago

India Fines WhatsApp $25M, Bans Data Sharing for 5 Years

Competition Regulator Says WhatsApp Users Could Not Opt Out of Data SharingIndia's Competition Commission has fined social media conglomerate Meta over $25 million for forcing WhatsApp users to agree to a sweeping data sharing policy with other Meta platforms. The agency ordered the company to stop using users' data for online advertising on other Meta platforms.