You`d think that an effective data backup regime would be the #1 top priority for any business. Unfortunately, countless organizations have suffered the painful consequences of inadequate safeguarding policies and procedures. Even some companies that have dutifully backed up their data on a daily basis have failed to store their backup tapes offsite in a secure, fireproof vault – or better yet. Not surprisingly, companies that have suffered a fire have seen their data go up in smoke with the building. Have a communication plan. Create a comprehensive plan that reaches all relevant audiences: employees, customers, investors, business partners, and other stakeholders. Do not misrepresent the violation. And don`t hide important details that could help consumers protect themselves and their information. Also, don`t share information that could expose consumers to other risks. A data breach can also hurt the stock prices of large multinationals. For example, the ICO`s fine on British Airways caused shares to fall by 2%.

However, the resulting reputational damage can have a long-term impact on customer loyalty and reduce trust in the market. A lot of expenses. Here are some of the costs typically associated with a data breach attack: Building data centers requires complex planning to protect sensitive systems in high-security zones. Information security experts talk about protecting sensitive systems with multiple levels of physical security. A level is a self-contained protected area that cannot be penetrated from the outside without entering through an opening to which access is controlled, for example: a locked door. High-security zones are protected by multiple layers of physical security. The organization must inform the DPA and individuals The data of employees of a textile company has been disclosed. The data included each employee`s home addresses, family composition, monthly salary and medical claims. In this case, the textile company must inform the supervisory authority of the infringement.

Since personal data is sensitive data such as health data, the company must also inform employees. Technologies such as low-cost redundant disk arrays (RAID), fault-correcting storage, and fault-tolerant systems (clustering) are already in place to reduce the risk of data corruption or loss due to device failures. Well-designed user interfaces for databases and applications can reduce accidental data changes or loss. Digital signature technology helps identify and prevent malicious user data that is tampered with or corrupted. We`ve attached information from the FTC`s website, IdentityTheft.gov/databreach, about steps you can take to protect yourself from identity theft. The steps are based on the types of information disclosed in connection with this breach. Data protection can fail vis-à-vis insiders. Disgruntled employees may choose to disclose sensitive information. External people can use email or malicious websites to install malware on employees` computers to obtain usernames and passwords. Your cloud service provider`s employees often have access to cloud data and email accounts, and mobile devices can be lost, hacked, or compromised.

In the face of such threats, organizations must identify the consequences of these data breaches and find solutions that reduce their risks. In order for organizations to protect themselves, Watnik suggests that all cybersecurity issues be discussed first at the board level, with a focus on understanding the big picture. Consider providing information about the law enforcement agency working on the case if the law enforcement agency agrees that it would be helpful. Victims of identity theft can often provide important information to law enforcement. The guidelines recommend that board members be aware of the following: As described in the first article in the “What You Need to Know” series, a data breach occurs when one or more individuals are authorized to read data that they are not authorized to access. Once they can read the data, they can steal it and often make changes to it. Depending on the type of data involved, consequences may include destruction or corruption of databases, leakage of confidential information, theft of intellectual property, and regulatory requirements to notify and potentially compensate affected individuals.