How to save time and money with outsourced IT support
Data Leaks
IT Governance published a report outlining the importance of security, as well as the number of global data breach incidents and effected records... To align with GDPR regulations, many businesses and IT professionals had to improve their IT & data security.
Possible Fines
Securing and defending your IT infrastructure is key for smooth business execution. If your business were to have a security breach, the ICO can issue you with 1 of 2 fines: the higher maximum or the standard maximum. Taken from their website, the following would be issued:
8,214,886,660 Total records breached in 2023
Higher Maximum
2,814 Global data breach incidents in 2023
The higher maximum amount is £17.5 million or 4% of the total annual worldwide turnover in the preceding financial year, whichever is higher.
3,800,000,000
UK-based records breached in 2023
Standard Maximum
The report from IT Governance shows that in 2023, the UK led the field with the largest number of data breaches - with the main source of the major leak coming from the DarkBeam incident starting from September 18th. The digital protection firm’s interface was left unprotected causing all personal user records exposed and breached. This was a big warning for companies and organisations to fortify their security measures as cyber threats continue to grow and become even more sophisticated each day.
If there is an infringement of other provisions, such as administrative requirements of the legislation, the standard maximum amount will apply, which is £8.7 million or 2% of the total annual worldwide turnover in the preceding financial year, whichever is higher.
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