Musiccosmos

Following the implementation of stricter European data protection regulations earlier this year, cybersecurity is at the top of the agenda of most businesses providing services, particularly in the context of protecting customer data. Under the General Data Protection Regulation (GDPR), if organisations suffer a data breach, they could now face fines of up to €20 million or four per cent of their annual global turnover, whichever is highest. There is also a heightened threat to all business due to the potential reputational damage data breaches may cause, as we have seen with the example of BA. As such, more businesses are looking to bolster their defences to remain compliant and avoid unnecessary fines and crippling effects of damages to their reputation. Thus, it should come as no surprise that regulators globally have already been focusing on the importance of strong cyber defences. For example, in addition to GDPR, in the UK, the Financial Conduct Authority (FCA) has listed cyber...