Protecting your data is crucial to your firm’s success. Should you suffer a loss of data, or a data breach, on top of the lost business and damaged reputation, you’ll also face hefty fines from the General Data Protection Regulation. GDPR fines are now forty times greater than the maximum penalty of £500,000 under the Data Protection Act 1998. Companies can now face up to £20 million or 4% annual turnover, whichever is highest, if laws are breached. A sobering thought when the Cyber Security Breaches Survey showed 43% of businesses in 2018 were witness to a breach or attack.
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