Why hackers will use GDPR to their advantage by TSG

October 20, 2017
(127 views)

Hackers are going to come for your data with more force than ever. Your data is about to become your business’ most valuable asset and biggest risk, thanks to the imminent General Data Protection Regulation (GDPR).

GDPR is coming in May 2018, and will bring with it eye-watering fines for non-compliance. For significant breaches, businesses could face fines of £17.5 million or 4% of global turnover – whichever figure is higher.

The Information Commissioner’s Office (ICO) revealed that recent data breach fines could have been 79 times higher if GDPR was already in place. The infamous Talk Talk breach, for which the company was fined around £400,000, would have cost £59 million under GDPR.

All businesses will process Personally Identifiable Information (PII) in some capacity; even those who don’t keep customer data will have employee’s personal information on record. That means every business must comply with GDPR. It also means all businesses are at risk of data breaches. Knowing the increased financial risk attached to breaches, hackers are more likely than ever to target your data and hold your business to ransom over it.

Heimdal Security researchers have suggested that businesses may be more susceptible to Ransomware or extortion threats than ever before, as hackers use the looming fines of £17.5 million or higher as leverage.

Ransomware is by no means....

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