DISCUSSION
Compliance
is one of
the biggest
challenges
facing C-level
executives.
You’re not
alone. Read
on to learn
more about
the costs and
complications
of compliance.
Î Î legal and
regulatory fees
Î Î poor reputation
Î Î lost business
Î Î technology and
services to recover
from non-compliance
or data breach
Î Î reparation to
customers
Beyond Finance,
Common Industries
Facing Compliance:
43%
THE COSTS OF
NON-COMPLIANCE
BIG DATA Is a Big Risk
43% of companies that suffered
a major loss from a breach had
to close their doors immediately
Time for Innovation
� Automotive
� Education
� Electronics
�
Food
� Healthcare
� Pharmaceutical
� Medical
� Utilities
Growing investment + increased
expectations requires innovation
to leverage the big spend
How does your business assess the culture of Ethics
& Compliance ?
18%
of businesses are not
currently assessing
ethics and compliance
34% conduct
a stand-alone
culture or
“ethical climate”
assessment
or survey
37% include ethics and compliance as part of
a broader annual survey administered by HR
or another department
A data breach that ranges from 1 million
to 50 million records lost that cost between
$40 million and $350 million
Healthcare
The industry with the reported
highest cost of data breaches,
costing $408 per lost or
stolen record
use information reported through whistle-
blower hotlines, internal reporting channels,
and/or exit interviews to assess the culture
14%
A look into data breaches says
MEGABREACH
57%
conduct employee
focus groups
is a top threat.
$3.86M
the average cost of
a data breach globally
3 4
OUT
OF
66
the average time
to detect and contain
DAYS a megabreach
Trust Matters. Consumers say they will
not do business with companies they
don’t trust to protect their data
Trying to get creative in addressing your business challenges? Sterling National Bank offers a full range of financial products
and services that can help you get there. Reach out to your Relationship Manager or call (855) 876-8940.
RANKED ONE OF FORBES' BEST BANKS OF 2018 // CONNECT INNOVATION FALL 2018 // SNB.COM
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