Do you work in the Payment Card Industry or Healthcare Industry? If your business collects data from your customers, whether that data be credit card information or a health history, it’s imperative that this data is protected. Hackers who want to steal information go for these type of businesses which have vulnerabilities in their systems. This makes it very easy for these hackers to take what they want and use it how they want. Often times, the identity information they take can impact the victim for years to come.
Therefore, there are certain standards set-up to help protect companies and customers who are dealing with this sensitive information. Protocols need to be strictly followed to make sure your company’s systems are secure. Even though you can’t ever be 100% protected, having a cybersecurity risk assessment done by an indepdendent third party that proves you’re taking proper measures can help you avoid strict penalties. These strict penalties will surely come after a data breach if you don’t have that assessment as proof of your efforts. Usually, they come in the form of very large fines, and even lawsuits administered by the government or by the victims themselves. However, there doesn’t even need to be a data breach to be faced with a penalty. Without consistent assessments, you’re putting yourself at risk and may still need to pay a fine regardless.
Ultimately, if haven't shown diligence toward protecting other people's/company's data, you will pay the price. Why not have an assessment done to show you’re being as proactive as you can be?