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Ouch! The Potential Cost of Cyber Security Breaches and GDPR Non-Compliance

27 July 2017

'Ouch! The Potential Cost of Cyber Security Breaches and GDPR Non-Compliance'

Jenny Parsons, ProTech's COO, gives her personal view..

If there are any senior executives within NFPs, membership organisations or associations who have yet to be convinced of the threat cyber security breaches pose to us all, they must have had their heads in the sand for a very long time. Surely there isn’t a ‘desert’ anywhere that didn’t receive news of Wannacry and the more recent ransomware cyber security attack, both hitting computers across the world.

The example of Wonga, which in April warned 245,000 of its UK customers and 25,000 customers in Poland that they should be vigilant after a serious data breach, should have been another warning in an ever-increasing list. ComputerWeekly.com’s Security Editor, Warwick Ashford wrote that the breach ‘may have exposed personal details’ including some financial information, and that it could be the UK’s biggest data breach to date.

Short-term loan firm Wonga, emphasised that customers’ full card details were not at risk however even incomplete sets of financial data can put affected customers at risk of financial loss, according to some security experts. Should the personal data breach at Wonga be confirmed then the Information Commissioners’ Office (ICO) will take a close look to determine if the company had taken adequate precautions to keep its customer data safe.

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