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Facebook fined £500,000

Fines are coming!!

We have discussed and published a number of leaked data in the past such as 50,000 Australian employees’ data exposed online and Number of records breached dropped nearly 25 percent in 2017!

Now with the new European General Data Protection Regulation in place businesses will start facing hefty fines if data is leaked and not protected as the regulation it should.

Remember, Australia has already a Mandatory Data Breach Notification regulation, which came into place back on the 22nd February of this year. This means that you must protect any personal information which you have in your business.

Now it looks like that Facebook is going to face a £500,000 fine for Cambridge Analytical Data Scandal which was discovered by the Information Commissioner’s Office back in 2015. It may not look like a lot for a billion dollar company, however think about what this number can do for a small company. Yeap, this will potentially mean that the small companies will need to close their doors for business if fined even once.

There are several ways to protect your business from Cyber Attacks, you may want to follow NIST (National Institute of Standards and Technology) , or CobIT from ISACA or even the Australian Top 35 from the Australian Signals Directorate. Either way, you have plenty of options and flavours to protect, monitor and control the information you have on your systems. If you don’t have anything in place, I strongly recommend to put some time aside and start planning how to protect this information.

I really believe what the former Director of the FBI, Robert S. Mueller said in the past “There are only two types of companies: Those that have been hacked and those that well be hacked”… Where to do you believe you are today?

Be safe out there. Until next Malware Monday.

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