GDPR closely regulates how an organisation can utilise and store data, including the necessary cyber security they must put in place to ensure the data is protected against cyber-attacks
A data breach can lead to fines of up to £10 million or 2% of the organisations worldwide annual revenue, depending on the higher figure. This places a lot more financial pressure on businesses that don’t have a recognised cyber security strategy in place. In almost all cases, it’s significantly more cost-effective to implement a thorough cyber security strategy than it is to risk a data breach and the associated fines and loss of reputation
By investing in cyber security infrastructure that meets GDPR guidelines and prevents data breaches, organisations can ensure that their customer’s data is protected and properly stored. As well as avoiding regulatory fines, they can prevent operational disruption and loss of customers in the event of a breach, further increasing the cost-effectiveness of their cyber security strategy