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this post was submitted on 20 Dec 2023
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In Europe this would be a hard to explain breach of GDPR. Which could result in some hefty fines. Especially if it is a vulnerability they knew about but chose to wait.
Are they in Europe? My guess is no.
Sure, but given that the poster said “would” the point is to bring additional awareness to how consumer-backing laws with actual teeth can bring about positive change, and perhaps to motivate citizens to support similar legislation and legislators who would write it.
In the real world, fines are a cost carried to the customer. So even with GDPR, the customer is still the loser in the situation.
Not in the EU. Fines can actually hurt here
So fines come with a requirement that a company can’t raise prices to recoup them?
Do you think companies aren't already pricing their products at the maximum they think the market can bear?
They are, that won’t stop them going higher.
Products are already priced at the point that will make them the most profits. That point doesn't magically change when fines happen.
This thinking was brought up to convince people not to hold companies accountable.
Make it cost. And if the company refuses to correct the behavior they shouldn't be allowed to operate. If there is no cost for bad behavior then said behavior becomes how you do business.
I'm not an opponent of fines, I just think they have no deterrence other than getting caught. Negligence at this level of public harm needs to carry jail time for the executives responsible for it.
Jail time would be outstanding honestly. I can get behind that.