Bad press and business interruption? Derisk with a powerful tool.
GDPR and other Privacy legislations’ repercussions are often underestimated.
Organizations can receive a fine up to €20 Million or 4% of the global revenue, whichever is higher. However there are two other, more important factors that are often forgotten though:
1. Interruption of business continuity.
Data Protection Authorities can order organizations to discontinue their incompliant processes until the infringement(s) has been fixed.
2. Negative media attention.
The second factor pertains to the inevitable negative media attention your organization endures in case of a GDPR penalty. Today’s customers already wary of organizations of all sorts. Getting bad press always results in revenue loss for a long period of time, as consumer trust is easily lost, but very difficult to restore.
When do you receive a fine?
Fines are imposed by the Data Protection Authority in each member state of the EU. Typically, Authorities perform audits because of a formal complaint they received from e.g., a customer or a disgruntled employee. The number of complaints across the EU has grown every year since the implementation of the GDPR in 2018 and shows no signs of stopping.
The moment your organization will receive a complaint is increasingly likely to happen. And the longer you wait in ensuring GDPR compliance, the riskier it gets. As with everything, prevention is better than cure.
Reach out to one of our experts to discuss how your organization can easily ensure business continuity and prevent unnecessary brand damage.
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