Telecom likely to see multimillion-dollar fines over ransomware attack

Australia-based telecommunications company Singtel Optus Pty Ltd. could face huge multimillion-dollar penalties over the latest ransomware attack that compromised the personal information of almost 10 million of its customers, The Sydney Morning Herald reported citing The Age and Sky News. Following the incident, the Australian government is also looking at making its data privacy laws more stringent and restrict companies from storing large amounts of their customers’ sensitive data.