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Is Building a Shark-Cage Right for Global Business?

THE REPURCUSSIONS OF A CONTINUED ISOLATIONIST APPROACH TO CYBER SECURITY AND THE
ALTERNATIVE ‘CLEAN NETWORK’ APPROACH THAT CARRIER-GRADE OPERATORS CAN PROVIDE

By Steve Patton, Cyber Security Specialist & Director, Telesoft

$1.63 billion. That’s the estimated fine for Facebook if it is found guilty of failing to adequately protect
user data. The enactment of the EU’s General Data Protection Regulations (GDPR) has ushered in an
era of astronomic fines for inadequate protection of personal data and privacy. There are caps in place,
but they offer little comfort for the non-compliant business: it’s still an eye watering €20 million or four per
cent of global turnover, whichever is the greatest.

As Bernard Marr has calculated for Forbes, GDPR would have had a terrifying effect on some of the
world’s biggest companies in the past few years. In this hypothetical:

 Yahoo would have been fined up to $160 million in 2014 for what was then the largest data
breach in history.

 eBay would have faced a fine of $264 million on turnover of $6.6 billion for a data breach that
affected 145 million users in 2013.

 Equifax would have been fined $124 million from its $3.1 billion revenue for compromising the
personal information of 143 million consumers in one of the largest cyber-attacks of 2017.

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