Research has shown that the fear of fines through GDPR is making some firms more likely to pay cyber ransom than report the breach. This is a very scary thought and extremely counterproductive. Why is this happening and what could be done to prevent this?
Any type of deliberate deception for unfair or unlawful gain that occurs online. The most common form is online credit card theft.
Entrepreneurs trying to grow their businesses are juggling so many demands on their time that they may find themselves unwittingly leaving the back door open to cybercriminals.
Sir Arthur C. Clarke said that: “any sufficiently advanced technology is equivalent to magic”. Well, I thought that transferring money from a country to another without paying any fees could only happen in a magical world, but since I have started travelling around the world of technology on my journey with Serviceteam IT, I would totally agree with Arthur.
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UK business, infrastructure and government face an unprecedented level of threat from cyber-security attacks. The new National Cyber-Security Centre (NCSC) contended with 480 major incidents in its first 8 months, from global ransomware outbreaks to smaller breaches at British businesses, and the pace shows no sign of slowing.
In the past, cyber attackers have often been unaware of how much stolen data is worth to organisations. However, the implementation of GDPR means that organisations can be fined up to 4% of their global annual turnover or €20m, whichever is greater, if found to have a data breach. These fines effectively provide cyber criminals with a price point for criminals to understand how much the data is worth to organisations.