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Google, Facebook could face stiff fines under new security measures

Google and Facebook apps

Australia plans to introduce new cybersecurity measures under which tech giants including U.S.-based Facebook Inc. and Google L.L.P. could face stiff fines if they breach privacy laws, Bloomberg reported. Under the new measures, the Office of the Australian Information Commissioner could fine companies up to $10 million Australia ($7 million). Companies could also be charged three times the value of any benefit gained or 10% of annual domestic turnover, whichever is greater.

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