The cost of Noncompliance of regulatory frameworks, PCI DSS, HIPAA and SOX is fast becoming a very real concern for SMEs. Where previously it was assumed that only bigger organisations have to deal with the fall out of Security breaches data and security is fast becoming a very real concern for Businesses of all sizes, the data we hold and the growth in the data we hold has meant that even the smallest companies can create very real and costly problems for their clients, financial institutions and Governments.
These problems also will be the obvious direct consequences and not so foreseeable indirect consequences.
No matter how noncompliance is discovered whether by an audit, or as the result of a breach, the effect can be devastating for a business. When a breach occurs, its impact often extends well beyond the fines levied it can include the cost of finding the root cause of a breach, remedying it, and notifying anyone affected.
The cost multiplies when legal expenditures, business-related expenses, and loss of revenues from damaged brand reputation are factored in.
If you think you might not be protecting your Business and clients as we as you could or should please give us a call