GDRP Requirements Help Companies Reduce the Impact of Data Breaches

RigidBitsCybersecurity Legislation, Risks

One of the first steps a company can take when addressing their cybersecurity concerns is to select a framework for the foundation of their cybersecurity program. Sometimes organizations chose to conduct appropriate due diligence to address cybersecurity and select their own frameworks. Other times, organizations are mandated by compliance laws and regulations. Companies who are mandated to follow GDPR may be reaping the benefits of the required framework.

GDPR and RISK

According to a recent article, published by The Hill, GDPR regulations have reduced the overall risk exposure of companies by directly reducing the impact of data breaches. The overall goal of any organization should be to reduce their risks as they relate to cybersecurity. Cybersecurity risks are calculated by multiplying the likelihood of a negative event times the impact that event would have on an organization.

Risk Reduction is the Ultimate Goal

Per the article, many companies have reduced their risk by implementing GDPR requirements. Prior to implementing GDP regulations, 80% of surveyed companies reported that a cybersecurity breach had impacted their business. Meanwhile, a new survey reported 74% of businesses were impacted by a cyber breach after implementing GDPR. While not a huge increase, clearly there is progress being made. It’s important to remember that a business will never eliminate every cybersecurity risk. Instead, the goal should be to reduce the risk to an acceptable level.

Rigid Bits Can Help Identify and Reduce Risks

At Rigid Bits, we focus on helping our clients identify potential cybersecurity risks and ultimately provide services to help reduce their overall risk exposure. Risks come in many different forms including people, systems, and/or applications. To learn more about how to reduce your risk exposure, contact us here.