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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 th
by tecleandor 1y ago
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 to pay just for the 50 dollars and the car repair.
- gruez 1y ago>Fines should be higher than the cost avoided, or companies would just avoid the cost until get caught. 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?
- harimau777 1y agoEnough to keep it from happening or enough to make whole everyone who was injured.
- tecleandor 1y agoAgain, it's not about what is saved, it's about what it caused. If they can't expend a bit extra to avoid damage to millions of persons, maybe they shouldn't be in that business.