Any organization that’s required to comply with the GDPR (General Data Protection Regulation) must conduct regular risk assessments.
Risk assessments are essential for effective cyber security, helping organizations address problems that, if left unchecked, could cause security and financial problems. Organizations might assume that the only risks they face are from cyber criminals trying to break into their systems. However, the GDPR is clear that data is also vulnerable to accidental or unlawful destruction, loss or disclosure, and the ways in which these could happen need to be identified at every stage of the data handling process.
There is more to the GDPR and risk assessments than the threat of data breaches. There are also times when you must also complete a specific type of risk assessment, called a DPIA (data protection impact assessment), to review the way you process personal data and to identify what might “likely to result in a high risk” to the rights and freedoms of individuals as stated in art.35 of the GDOR.