Non-compliance 2X the Cost of Compliance. Can You Afford the Risk?

Did you know that it can cost organizations between $7.7 million and $30.9 million to meet or maintain compliance, depending on their industry? While those are sizeable numbers, non-compliance costs can spike up to 2 times the cost of compliance. Which makes you wonder, can you really afford the risk?

Data Protection Regulations are Complex but Necessary

Data protection regulations like the General Data Protection Regulation (GDPR), Payment Card Industry Data Security Standard (PCI DSS) and the Health Insurance Portability and Accountability Act (HIPAA) include a number of requirements that can be costly and complicated to follow. However, these regulations are essential to ensure that organizations follow the same set of standards when protecting, sharing, collecting or storing sensitive data.

Compliance Costs at a Glance

To craft the right strategy for following regulatory compliance, it’s important to understand the potential investment required to achieve and maintain compliance. It’s also crucial to understand the price you pay if you don’t comply.  In “The True Cost of Compliance with Data Protection Regulations” report, the Ponemon Institute shares potential costs of compliance and non-compliance. This “Data Protection Regulations At-A-Glance”  will provide a short overview of key findings from the complete report, including:

  • The cost of compliance vs. non-compliance
  • How much of an impact data governance can have on costs
  • Varying compliance costs of three key industries
  • Top four regulations considered most difficult to achieve compliance

About the Study

Ponemon Institute conducted “The True Cost of Compliance with Data Protection Regulations” to determine the full economic impact of compliance activities for a representative sample multinational organizations. Sponsored by Globalscape, the objective of this research is to determine the full costs associated with an organization’s compliance efforts, including the cost of non-compliance with laws, regulations and policies.

You can also check out “The True Cost of Compliance with Data Protection Regulations”  full report, brought to you by Globalscape and Ponemon