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In the event of a personal data breach, data controllers must notify the appropriate supervisory authority without undue delay and, if possible, no later than 72 hours after becoming aware of it (Article 33 of the GDPR).
Automate notifications of data breach to secure sensitive data
Employees, customers, suppliers, prospects – every company stores personal data about individuals. Should this data fall into the wrong hands, e.g. through a hacker attack, every affected individual has to be informed by legal requirement.
Since the introduction of the GDPR, companies have been fined if required reports are not available for affected people within a short time. Worst case scenario, the effort required for reporting on that data can even be business-threatening.
With exponentially growing data volumes, numerous cloud providers, and a wide variety of data protection models, it is becoming increasingly difficult to meet these legal requirements without software solutions.
In the event of a personal data breach, data controllers must notify the appropriate supervisory authority without undue delay and, if possible, no later than 72 hours after becoming aware of it (Article 33 of the GDPR).
The GDPR sets exorbitant fines of up to $24 million or 4% of the total worldwide turnover of the preceding financial year - whichever is higher - for infringements.
Based on a recent study conducted by IBM the average cost of a data breach is $3.9M. Main cost contributors are detection and escalation, notification, post data breach response and lost business cost.
Data breach is one of the biggest threats in government and corporate security today.
However, there are very efficient ways to proactively do risk analysis and compliance audits to stay on top of things and avoid crises before they happen.
Watch this free webinar to learn more about data breach, how to prevent and handle it.