Humanity’s entrance into the Fourth Industrial Revolution has made exponential changes to how people relate with one another and with their technology. Data is easily uploaded and shared to other gadgets through high-speed Internet and Cloud storage. The increased use of these and other supply chain networks has also made files easier to access—and harder to protect.
The European Union’s General Data Protection Regulation’s (GDPR) came into effect on 25 May 2018. The GDPR law has triggered several immediate changes. The new regulation safeguards security and privacy rights for users. GDPR has forced companies to change their practices on data gathering and processing in many ways.
A data breach may be viewed as the accidental or unlawful destruction, loss, alteration or unauthorized disclosure or, access to data . Over the years, thesecurity broadcasts are generally replete with numerous incidences of data breaches across the globe. Therefore, it is little surprise that 1 in 4 business have experiencedthis type of incident . The significant financial impact is also unmistakable as the total average cost is estimated to be 3.62 milliondollars, which equates to in excess of$300,000 dollars .
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