The FTC has fined Facebook $5 billion for data misuse and other issues related to Cambridge Analytica, the European GDPR, the last US Presidential Elections, and the Brexit campaign. This sounds like a lot of money, but for Facebook, it is really just a wrist slap.
And speaking of slapping, Equifax settled its incredibly bad data breach for somewhat less than $700 million. Again, sounds like a lot, but that is basically 7 bucks for each person affected by the breach. Your credit history is worth $7? Is that what they charge their customers, the banks, credit card companies, mortgage companies and auto dealers that use these reports? I think it might be something more than $7. So Equifax gets to skate.
Some states have funds set up so you can make a claim against any actual damages you may have experienced due to the breach. Check with your state’s Attorney General for details.
As a society, we have become numb to the never-ending string of data breaches and misuse of our personal information by online businesses. This is unfortunate, but unavoidable. I still think these kinds of “mistakes” need to result in more than fines. I think it would be great if the C-Suite or Board were up for some jail time. I bet they would quit kicking the cybersecurity can down the road if they could face prison.