The cost of non-compliance can be very high. It depends on the framework, violation, and other factors. Let’s take GDPR as an example. For severe violations, a fine reaches up to 20 million pounds or up to 4% of the violator’s total global turnover, whichever is higher.
To be compliant, you have to implement appropriate security measures to protect your data from unauthorized access, exposure, cyberattacks, and other threats. By implementing strong IT security practices, you do not only comply with laws but protect your business from the negative consequences of data breaches, as well. Besides, being compliant is a good way to improve trust between your business and your customers.