this post was submitted on 12 Jul 2024
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Companies should be forced to pay thousands of dollars to each customer that gets their data stolen on top of paying for any damages caused by the use of the stolen data. That would put them out of business with a breach this large.
You'll take your check for $3.27 from the class action lawsuit that settled 4 years ago, and you'll be happy
They all get cybersecurity insurance to limit/eliminate that risk and pass it down to someone else. Yeah, we're at a point where companies have accepted it'll happen and pay for fucking cybersecurity insurance to protect their capital instead of spending that money on actual security.
Increasing the liability just means the premiums will be passed down to the users, and insurance companies will be rolling in cash. Not like the users would get the settlements anyway.
And of course there's the whole problem of disposable LLCs, so even a corporate death penalty would do shit, because our society doesn't give a shit about people, only capital.
Needs to be a percentage of revenue earned to eliminate the possibility of passing the buck. So... It's not happening any time soon.