Fined €20 million or 4% of global turnover for failing to comply with regulatory frameworks
Compliance and regulatory frameworks are constantly evolving to ensure that organisations maintain data privacy. Many, if not most, regulators stipulate that all data must be encrypted in transit.
Common regulatory frameworks such as HIPAA, MiFID II, GDPR, and PCI DSS ensure that organisations protect their customers' and employees' personal information, medical history, financial data, and other sensitive information. To ensure that organisations adhere to compliance standards, regulators tend to require automated reports to validate end-to-end encryption.
If organisations fail to implement appropriate regulatory measures that protect personal data, organisations can be fined quite significantly. Specifically, under GDPR, organisations can receive a monetary penalty of up to €20 million or 4% of annual global turnover.
Find out how you can adhere to regulatory requirements with Venari Security.
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