Keep an Eye on GDPR This Year as It Becomes More Stringent
Discussing the GDPR regulatory agencies' fines from the previous year and the actions you can take this year to improve your GDPR game $1.25 billion – that's the amount imposed by the EU's General Data Protection Regulation (GDPR) as fines on companies in 2021 for violating the EU citizens' and companies' privacy and security. The penalties increased from roughly $180 million a year earlier , even though the number of data breaches reported to regulators decreased by 8% to 356 each day on average. However, as Arlen Specter pointed out, "effective security measures do not come cheap." This is why, until November of last year, 36% of firms had no "clear contingency plan in place to mount a response" to a cyberattack, whereas 66% of small businesses are still most concerned about compromising client data. Regardless, while most standards are particularly relevant to managed service providers (MSPs) and software vendors since they have access to ...