Data breaches are becoming more and more common as hackers continue to hone their skills. It is imperative that companies develop an appropriate response to secure as much data as they can, save their reputation and regain client trust.
Data breaches must be responded to quickly and decisively. Unfortunately, data breaches are often not discovered immediately; a past survey has shown that as many as four months can pass before a company realizes a breach has occurred. Some breaches are only found through news reports or law enforcement investigations. The length of time a breach is active increases the amount of harm to your data and your reputation.
If you find yourself a target of a data breach hack, it is imperative that you stay calm and not rush into a hastily produced patch in your security software. Prepare a response plan prior to re-engaging “business as usual.” Notify your clients so that they can take appropriate action and follow the laws in your state to ensure that you do not create legal problems and penalties. At this point, work with your security software and forensic experts to determine what happened and how to fix the issue.
Avoidance Plan
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Develop a response plan to fix the problem in the event of a data breach
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Notify any client that may have been affected
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Create a coordinated plan to involve Public Relations and marketing to repair the company’s public image
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Review state law requirements to ensure compliance with applicable notification laws
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Investigate cyber insurance with your corporate insurance carrier
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Develop a plan before a data breach occurs and test it routinely to prepare
What is a Data Breach?
In developing a response plan, the first step is to define what an actual breach is. What types of events will trigger your plan? Minor incidents, such as phishing emails, would normally have no major impact on the company’s data or operations. Other events like DOS (denial of service), ransomware, or actual theft of company files are serious situations requiring quick action. A data breach can be as simple as theft of employee or customer names, or employee passwords to modifying applications or transferring funds. Once the hacker gains access to your system, THEY have control, not you.
Who Gets Hacked?
Hackers are getting better every day and even small companies are targets for the information they may have on their computer systems. Smaller organizations may feel that they are safe from hackers since they have less important data vulnerable. But the theft of clients or money or passwords could be a major disruption to business for any size company. Homeland security was hacked and it was not discovered for months, so no organization or company should feel exempt from the possibility. Many of these activities are foreign government-sponsored with heavy funding behind the training and employment of these hackers.
Purpose of a Response Plan
The response plan provides clear instructions that should be followed if a breach is discovered. Without a clear plan, time is wasted and additional anxiety is created at an already stressful time. Having a plan in place can limit the mistake-laden process of trying to quickly patch together a data security issue. Keep in mind that if you haven’t experienced a data breach yet, it is a good chance that in the future, one may occur.
Contact a 10X Consulting Group team member at 704-931-1056 or visit us online at https://10xcg.com/ so we can work together on your IT security and employee procedures to better prepare and avoid a data breach.