Serious data breaches can be extremely costly for organizations, and there is a great need to prevent them.
However, many companies have not prepared themselves to deal with data breaches. They have neglected to invest in appropriate measures to prevent them. We can face it as an “It will never happen to us” mentality. After all, it can be easy to defer investing in something we never imagined would happen to us, especially when it has to do with the retreat of our roof or a data breach in our workplace. This mentality delays action even further, especially when there are other competing priorities to use our budgets and resources.
However, failure to implement appropriate measures to prevent and address violations can put organizations at a disadvantage. Either with the Regulatory Authority or with customers and broader stakeholders.