Chinese Regulator to Fine Didi More Than $1 Billion Over Data-Security Breaches

SINGAPORE – Chinese authorities are preparing to fine a ridesharing company more than $1 billion Didi Global This ends a year-long investigation into the company’s cybersecurity practices, according to people familiar with the issue.

Once the fine is known, the government plans to ease a restriction that bans Didi from adding new users to its platform and will allow the Beijing-based tech company’s mobile apps to be restored to domestic app stores, some of the people said. The fine will also pave the way for Didi, whose app is used by tens of millions of users in China every month, to launch a new stock listing in Hong Kong, these people said.

https://www.wsj.com/articles/chinese-regulator-to-fine-didi-more-than-1-billion-over-data-security-breaches-11658224370 Chinese Regulator to Fine Didi More Than $1 Billion Over Data-Security Breaches

Alley Einstein

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