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Under the GDPR, penalties for non-compliance
are steep. Fines can be up to €20 million or 4% of
global annual turnover – whichever is higher. And,
of course, in the case of a data breach, these fines
are over and above what an organization incurs
during containment and recovery.
It's estimated that the average cost of a data
breach is $3.6M. In all cases, the financial impact
of a data breach increases with time, so rapid
detection and containment are key to minimizing
both data and monetary losses.
When the mean time to containment is less
than 30 days, the estimated average total cost
of a data breach is $2.83M. The average cost to
companies that take more than 30 days is $3.77M.
What are the potential fines
for non-compliance?
