The Cost of a GDPR Breach
Published on: 24th July 2018
By PYXI GDPR Team
While there is widespread acceptance that almost every organisation is susceptible to data breaches, from small occurences caused by human error to large scale hacking, the negative effects are now starting to be seen, not purely in terms of financial penalty, but also in reputational damage.
Real Business recently reported research from Crown Records Management who found that:
"78% of people would either “definitely” or “probably” withdraw their custom from a company which suffered a data breach. What’s more, almost a third said that a company’s reputation could be damaged for up to two years if they suffered a breach – this is not an easy problem to make disappear." - read more.
This wider damage to the organisation can potentially be mitigated by a strong and public engagement with the issues uncovered. Working out your Data Breach Strategy in advance will give the greatest chance to manage the negative impacts, both financial and reputational, when a breach occurs.
PYXI for GDPR can help you to structure your response to Data Breach before it happens, and manage the process should you experience a Data Breach in your business.
PYXI GDPR Team: 24th Jul 2018 11:38:00
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