Earlier quoted context omitted.
>Equifax: In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected by the data breach. How much money did they make from the breach thou…
Fines should be higher than the cost avoided, or companies would just avoid the cost until get caught. Also, it's not only about the cost avoided, but about the damage to the people while you were doing that. If you're making money moving logging trucks, you skimp 50 dollars per trip in some straps to fix the load, and then a couple logs fall, run over a car, and almost kill a bunch of people, I'm not expecting you t…
Again, how much do you think Equifax saved from skimping on security? Sure, spending $575M would have prevented the hack, but how much did they have to spend to be considered not negligent?