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Hacks could cost British businesses £122 billion by 2018

Businesses in the UK could face up to £122 billion in fines for cybersecurity breaches in 2018, according to new findings from the Payment Card Industry Security Standards Council (PCI). The increase in fines would come as part of new EU legislation, which will set regulatory penalties for security breaches at 4% of global turnover, to a maximum of £18 million. A cybersecurity breach is an incident that results in the unauthorised access of a company's data or its networks.
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