The most successful firms operating today are acutely aware of the most common issues haunting data security, and they put extensive time and effort into designing protocols that prevent breaches. Data leaks have proved expensive for many companies in recent years. Along with dealing a serious blow to an enterprise’s corporate reputation, breaches can be exceptionally costly incidents, from forensic investigations and defence solutions to hefty fines from data regulators and compensation paid out to data subjects.
Cybercriminals are constantly honing their malicious methods to bypass the most secure systems put in place, leading even the most tech-aware enterprises, like software providers and social media giants, to find their systems vulnerable and to bear the brunt of breaches. With this in mind, no matter how sure of your defences you are, it’s worth knowing you have a plan of action in position if your data loss prevention tactics fail to keep cybercriminals out of your network.
In the next sections, we’ll look at some key areas to consider when reacting after you suffer a breach, which may minimise the negative impact on your business.
Remain totally transparent
Failing to adequately safeguard data can deal your firm a serious blow, but attempting to hide it from those impacted or data regulators can do far more harm. Companies caught covering up data leaks typically face much greater penalties than those who admit their systems were fallible. The best policy on identifying a breach is to admit that your company was to blame and accept your responsibility.
Being totally transparent is key to promoting trust, so provide full details on what and why the incident took place as soon as your investigations turn up answers.
Working hard to help those negatively affected by the data leak is the obligation of every firm following a breach. Following your assessment of the breach, draw conclusions on the potential risks to data subjects involved and describe all possible solutions that will help them. This may be as simple as updating account passwords, being wary of phishing emails or watching their credit score for signs someone is using their financial details that were disclosed. If possible, present an offer as recompense for those affected.
It is said people learn much more from mistakes than successes, and with companies involved in data leaks, there are always fresh insights uncovered. Explain publicly how your company will prevent any similar breach occurring in the future and the new measures that have been put in place.
While your first impulse after taking a hit is to batten down the hatches, encouraging discussion about your breach with analysts, industry experts, security specialists, your clients and trusted members of the media can help show your commitment to being a transparent and reliable organisation able to cope correctly in a crisis.
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If you require advice or assistance on bolstering your cybersecurity measures, contact Galaxkey today to trial our secure workspace.