CNIL says that GDPR contributes to savings in cyber security

In its review of the economic impact of the GDPR, five years after its entry into force, the CNIL, France’s Data Protection Authority, chose to study the economic benefits of the GDPR. Its analysis focused on cybersecurity reveals that the GDPR has generated benefits between €585 million in identity theft cases and €1.4 billion in cyber damages in the EU, solely through the effect of notifying data breaches to the individuals concerned. Data breach notifications lead to a 2.5% to 6.1% decrease in identity theft, claims the CNIL.

When a company invests in cybersecurity, it helps create a more resilient overall environment against cybercrime — through a mechanism similar to herd immunity, the CNIL says.

As the GDPR requires the implementation of security measures, this benefits both the individuals and the organisations.

See:

CNIL - Cybersecurity: The Economic Benefits of GDPR

https://www.cnil.fr/en/cybersecurity-economic-benefits-gdpr

The CNIL’s Commissioner for International Affairs, Bertrand du Marais, will speak at PL&B's 38th International Conference in Cambridge, UK on 7 July about the CNIL's Mobile Apps recommendation.