5 ms·
They are hacked, but you will never know or be personally affected. This is why banks are strictly regulated and have insurance for everything and agreements wi
by SXX 4y ago
They are hacked, but you will never know or be personally affected. This is why banks are strictly regulated and have insurance for everything and agreements with whoever manage their IT and security.
- pas 4y ago> you will never know maybe. GDPR has a notification of breach requirement. we shall see.
- Nextgrid 4y agoGDPR enforcement is laughable. Come back when Facebook and Google are fined out of existence and then you’ll have a point.
- sofixa 4y agoObligatory https://www.enforcementtracker.com https://www.enforcementtracker.com With regards to Facebook and Google, there are recent news on that front: https://techcrunch.com/2022/11/28/facebook-gdpr-penalty/ https://techcrunch.com/2022/11/28/facebook-gdpr-penalty/ https://www.thedrum.com/news/2022/11/15/googles-400m-penalty-the-impact-the-5-heftiest-data-privacy-fines-2023-ad-plans https://www.thedrum.com/news/2022/11/15/googles-400m-penalty...
- Nextgrid 4y agoMy point is that the “obligatory” link is getting annoying when tallying up the total amount of fines over the last 4 years across all companies is still less than the yearly profit of the single biggest offender. And yes, the news you mention are welcome but I’m not holding my breath - they’ve been allowed to brazenly breach the regulation for 4 years and one of the regulators even ended up being corrupt and collaborated with them behind the scenes.
- SXX 4y agoGDPR is only applies when personal data is involved. Banks usually have all client data well isolated from everyone including most of IT staff so credit card data being stolen isn't always mean that personal data is affected.
- Bombthecat 4y agoYou can't outsource accountability.
- mschuster91 4y agoOh yes you absolutely can. C-level execs routinely get D&O insurance that covers for everything financial... the only thing that a C-level exec can't get out of is jail time, but it's rare that courts hand out jail time.
- Bombthecat 4y agoThat is responsibility. You outsource to, let's say, okta, okta takes an insurance. Payment goes down the chain. The accountability to pick okta and check if they are, let's say within gdpr is on you!