A newly released report sets out that European financial institutions face a conservative bill of €4.7 billion in the first three years of GDPR. Companies should be taking this statistic very seriously and ensuring that they are putting measures into place to effectively manage and protect their personal data. This doesn't just affect mega-companies - no business is exempt.
The more proactive your company is now, the more protected it will be in eliminating breaches as well as reducing future fines, should the worst case scenario occur.
A new report is “conservatively” forecasting that European finance organisations are about to shell out €4.7 billion in first three years after the GDPR (General Data Protection Regulations) comes into power thanks to data breaches which they don't currently have to declare.
