All organisations store data, and regardless of whether it's a recipe or an algorithm, this data is an organisation's most prized asset, which is why hackers make it their target. The Cyber Security Breaches Survey 2019 from the Department for Digital, Culture, Media & Sport (DCMS) found that 32% of businesses identified cyber security breaches or attacks in the last 12 months, which have cost an average of £4,180 in lost data and assets

Cybercriminals are only getting more cunning and skilful with their cyber attacks, which is bad news for organisations when it comes to meeting privacy and compliance regulations. There can be significant legal implications for organisations if their data is not secure and regulations are not met. For instance, since the GDPR (General Data Protection Regulation) came into effect in May 2018, data protection regulators have imposed 114 million euros (approximately 97 million pound) worth of fines under the GDPR regime (GDPR Data Breach Survey 2020 by DLA Piper).