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Sony Faces U.K. Fines for PlayStation Cyber Attack

Regulators said the company hadn't maintained adequate security


The hacking of its PlayStation Network almost two years ago will cost Sony (NYSE:SNE) almost $400,000 in fines.

Investors appeared unconcerned by the news, sending Sony shares up almost 2% in Thursday morning trading.

Sony to Sell Its Manhattan HQ for $1.1B
Sony to Sell Its Manhattan HQ for $1.1B

The U.K. Information Commissioner’s Office announced on Thursday that it was fining the Japanese electronics giant $396,100 for lax security measures at its online gaming network that failed to stop hackers from gaining access. Personal information contained in 77 million member accounts could have been exposed during the incident, CBS News notes.

According to British regulators, the network’s security software had not been kept current. They also cited a lack of password security. A Sony spokesman said company would appeal the fine and noted that no customer credit card information had been compromised during the attack.

Police in the U.S. and the U.K. ultimately captured several of the hackers involved in the cyber-attack. At the time, Sony was criticized for waiting a week to report the incident.

In August, a anonymous hacker claimed to have breached the PlayStation Network, but Sony dismissed the claims as false.

Article printed from InvestorPlace Media,

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