Is reputational damage worse than a regulator's fine?

Abstract

Companies today have a huge task on their hands with the sheer volume of red tape required to demonstrate compliance. Such is the global nature of today's regulations that most organisations must adhere to them even if they are not physically in the markets covered. This is exposing them to greater compliance risk than ever before. Such is the global nature of today's regulations that most organisations must adhere to them even if they are not physically in the markets covered. This is exposing them to greater compliance risk than ever before. Data leaks, intentional or unintentional, happen. And when incidents occur, organisations may find themselves having to prove – both to the authorities and their customers – what measures were taken to secure information. This can leave firms struggling to manage the adverse side effects of data leaks, such as damage to customer loyalty, says Jesse Canada of ASG Technologies.