The impact of data breaches

Cyber threats have become a serious global issue; according to the World Economic Forum’s Global Risk report, cyber attacks are one of the top five risks to global stability in the next five years.

Cyber attacks and data breaches are a risk for every organisation. In the past 12 months, 43% of UK businesses suffered a breach or attack.

Based on our list of data breaches infographic, this video shows how much data was lost or stolen in 2017.

The loss of data can have detrimental effects on an organisation and result in financial and reputational repercussions.

With the EU GDPR (General Data Protection Regulation) now in effect, organisations have a greater responsibility to protect the personal data they hold. Any data breach must also be reported to the ICO (Information Commissioner’s Office) within 72 hours of discovery or being made aware of it. Failing to comply with the Regulation puts organisations at risk of hefty fines – up to €20 million or 4% of annual global turnover, whichever is greater.

Suffering a data breach is a matter of ‘when’ not ‘if’, so it’s vital that organisations are #BreachReady. With the right response plan in place, you can find out how extensive the breach is, how it happened and who has been affected. This will allow you to control the impact of the breach and report it to the ICO.

To help your organisation become #BreachReady this summer, IT Governance is offering up to 20% off its GDPR solutions.

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