Cyberattacks and data breaches are no longer merely an IT problem. They have the potential to cause business disruption, financial damage and reputational harm. Data theft can introduce a raft of legal and data privacy implications for organizations. According to IBM, the average data breach now costs organizations
On the other hand, a “compliance risk assessment” is a comprehensive review of all the industry standards, rules and regulations that a particular organization is subject to . Examples of these include HIPAA, NY DFS, PCI, GDPR and other privacy/security regulations. This is inclusive of how well-equipped the organization is to meet these rigid mandates and obligations.
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