According to Breach Level Index,
58 records of data are lost or stolen in a second globally. Considering that data breaches are a popular thing these days, it is better that you have a predefined incident response team in place to handle such situations accordingly. Whenever a data breach occurs, it paves a way for various crimes such as identity theft, financial frauds, blackmailing, etc. as the unprotected data can be misused easily by the attackers or anyone else accessing that data.
You cannot bounce back from a data breach – it is a myth that needs to be busted immediately. You can always bounce back from a data breach considering that you have mitigated it successfully. If there has been no lack of action at your end, your customers are bound to trust you again.
In case a data breach occurs, take a note of following points before preparing a mitigation strategy –
1. Activate Incident Response Team
Whenever a data breach occurs, the first thing you should do is activate your organization’s incident response team and bring all the stakeholders on the same page. If your organization does not have a dedicated incident response team, you must immediately create one. (We will deal with creation of an incident response team in the upcoming posts).
2. Information Gathering
The second step is something that your incident response team will deal with. Once it has been notified that a data breach has occurred, an organization should try to gather as much as information possible about what has happened and how has it happened. Gathering information is important to determine answers to questions such as –
- What will the impact of this data breach on the organization?
- How will the organization respond to this breach?
- What should be communicated to all the customers and clients?
Figure 1: Data Breach – Five Things You Must Do!
3. Communication & Transparency
In case of any type of data breach, whether minor or major, the communication should be clear and transparent. All the parties involved, external as well as internal, you must ensure that the same message is being circulated so that no one gets any wrong idea about the situation.
In addition, always remember that honesty is the best policy. After a data breach has occurred, one thing that your customer expects from you is transparency. If you fail to disclose any important information initially and it somehow comes to the public knowledge later on, there are sure shot chances that your customers will lose even more trust in your organization.
4. Legal Issues
If you are in the US, then different states have different laws and they have to be complied accordingly. If you are in any other country, make sure that you have complied with the national laws in your country. On a side note, your incident response team can also include a few people with a legal background to make the compliance easier.
Certain laws such as GDPR require you to report a breach to the supervisory authority. You must make sure that this step is taken care of with utmost priority as your organization’s future is on the line. In any case, always comply with national/federal laws.
If you are having an incident response team, then the result areas of this step will be their prime objectives. After a breach has occurred, your response plays a major role in winning the trust of your customers again and bringing the business on the track.
As stated, the future reputation of a company is completely dependent on its response to a data breach. Hence, it is important for your organization as well to have an incident response team in place with predefined roles and procedures so that your response to a data breach is swift and hassle-free. To conclude, prevention is always better than cure and on the same lines, you can check Logsign’s Threat Intelligence Solutions here.