Coupang faces mounting regulatory and legal risks after a probe found its massive data breach was due to internal management failures, not hacking, with potential fines up to 1 trillion won ($750 million) and U.S. lawsuits underway.
#YonhapInfomax #Coupang #DataBreach #PersonalInformationProtectionAct #RegulatoryFines #ClassActionLawsuit #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=104893

Coupang CEO Harold Rogers pledged to strengthen security systems after lawmakers criticized the company's U.S. headquarters despite generating over 90% of revenue in South Korea, highlighting ongoing scrutiny over data protection and compliance.
#YonhapInfomax #Coupang #HaroldRogers #SecuritySystems #Revenue #PersonalInformationProtectionAct #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=95971

South Korea’s parliament advances a bill raising maximum fines for personal data breaches to 10% of company revenue, targeting major violations and boosting consumer protection.
#YonhapInfomax
#PersonalInformationProtectionAct #Coupang #DataBreach #RevenueFine #NationalAssembly
#Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=95578

Privacy watchdogs probing B.C. firm that runs tenant background checks

The privacy commissioners of Canada and British Columbia have launched an investigation into a Victoria-based company that performs background checks on tenants and others.

They say in a joint statement that Certn is being assessed to make sure it complies with the federal Personal Information Protection and Electronic Documents Act and B.C.’s Personal Information Protection Act.

The commissioners say they will investigate whether “consent provisions” in both laws are being followed, and whether the data it collects is being used appropriately.

from Maple Ridge-Pitt Meadows News –

#BritishColumbia #Canada #PersonalInformationProtectionAct #PersonalInformationProtectionAndElectronicDocumentsAct

Global News BC: B.C. Canadian Tire stores broke privacy laws with facial ID technology: report https://globalnews.ca/news/9639812/bc-canadian-tire-stores-privacy-laws-id-technology/ #globalnews #britishcolumbia #news #OfficeoftheInformationandPrivacyCommissionerforB.C. #PersonalInformationProtectionAct #facialrecognitiontechnology #facialrecognitionsystem #CanadianTireinB.C. #FacialRecognition #CanadianTireBC #CanadianTire #Canada #OIPCBC #Tech #PIPA