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The U.K. government said that the country's firms in the nation’s most critical industries will face fines of up to £17 million ($24 million) if they do not have effective cyber security measures in place, the BBC reported. Margot James, the U.K.'s Minister of State for the Department for Digital, Culture, Media and Sport, said that the penalties will apply to energy, transport, water and health firms if they fail to put in place the robustest safeguards.The new directive takes into effect in May.