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British Organizations Could Face Massive Fines for Cybersecurity Failures

Organizations who fail to implement effective cybersecurity measures could be fined as much as £17 million or 4% of global turnover, as part of Britain's plan to prevent cyberattacks that could result in major disruption to services such as transport, health or electricity networks. The Guardian reports: "The move comes after the [National Health Service] NHS became the highest-profile victim of a global ransomware attack, which resulted in operations being cancelled, ambulances being diverted and patient records being made unavailable. ... The issue came to the fore again after a major IT failure at British Airways left 75,000 passengers stranded and cost the airline £80m… The consultation will also focus on system failures, with requirements for companies to show what action they are taking to reduce the risks."

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