Cyber criminals likely to benefit from GDPR provisions

Cyber criminals likely to benefit from GDPR provisionsCriminals are switching to more refined and strategically targeted attacks; in particular, ransomware, cryptocurrency mining and business email compromises are on the rise, Trend Micro reports. The company warns that criminals could benefit from some provisions of the European Union’s General Data Protection Regulation (GDPR) which provides high fines – up to €20 million or 4% of global turnover – for institutions that fail to secure the personal data of their users. This may give a clear guide to criminals that manage to penetrate into systems and steal personal data on what ransome their targets might be willing to pay to hide the breach and avoid higher penalties and reputational damage.