Top 10 Fines and Sanctions for Cybersecurity Incidents in 2022
A data breach can be a massive headache for organizations and enterprises, as it may entail severe consequences, including decreased customer trust and substantial financial losses like recovery costs, loss of revenue and expenses due to regulatory fines for a data breach. This article highlights the biggest fines and penalties for non-compliance companies faced in 2022.
China fines Didi Global $1.2bn for breaking cybersecurity laws
China’s cybersecurity regulator fined ride-hailing behemoth Didi Global 8 billion yuan ($1.18 billion) for violating multiple cyber security laws in the country, including the network security law, data security law and personal information protection law.
According to the Cyberspace Administration of China, Didi collected personal data of millions drivers and customers, including facial recognition data, personal identification numbers, home and company addresses. The watchdog said that these collecting activities seriously threatened national security and were carried out with malicious intent.
More fines in the list:
- T-Mobile $350 million settlement
- $63M OPM hack settlement
- Morgan Stanley pays $35M SEC fine for failure to protect personal data of 15 million customers
- SolarWinds $26 million settlement
- FTC sues ed tech provider Chegg over multiple data breaches
- Meta fined €17 million for data security violations
- Cosmote fined €6 million over 2020 cyber-attack
- OTE Group was also fined €3.25 million for the lack of adequate security measures resulting in the leakage of subscriber call data.
- Vodafone España fined €3.94 million for violation of GDPR
- Dedalus Biologie fined €1.5 million for massive health data breach
Full article: https://www.immuniweb.com/blog/top-10-fines-and-sanctions-for-cybersecurity-incidents-in-2022.html
