A surge in data breaches and other security failure insurance claims is expected when the EU General Data Protection Regulations (GDPR) come into force on 25 May, according to research from AIG Europe.
AIG head of cyber for Europe, the Middle East and Africa Mark Camillo warned that GDPR would become “another tool for negotiation by extortionists”.
He said: “They will threaten to compromise an organisation’s data unless a payment is received, knowing that the consequences could be more
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