What to Do When Your Business Has a Data Breach

March 12, 2022
Natalie Thorburn

Hackers usually cause data breaches when they gain unauthorized access to a company's data. Malware on company computers, a lost or stolen laptop, or careless employees can all cause one to occur. After a breach, your company should take the following steps:

Determine the Source and Extent of the Breach

Detection of potential attacks can be done if you have intrusion detection and prevention systems on your network. These systems monitor traffic in and out of your network as well as traffic on your internet connection. You will have to manually collect and process the data if you don't have the right information gathering systems. Unfortunately, this is a time-consuming process that can cost you more than investing in the right information-gathering and management software.

Take Immediate Action

To preserve evidence following a breach, specific action should be taken. In most cases, this involves taking a disk image and saving pertinent data. After installing a new security fix, you should evaluate your servers thoroughly. Ensure that the new security solution is working, and make sure no other vulnerabilities appear. You’ll also want to change any relevant passwords to lock out anyone who isn’t authorized to access your accounts.

Inform Your Customers and the Authorities

Despite your embarrassment, you must be open and honest about the breach. Contact the authorities immediately and inform your customers. By informing those affected about what happened and how you fixed the threat, you can restore their trust. Customers who are informed won't become victims of identity theft later. Although the problem of identity theft has grown significantly, it can be prevented if people know that their information has been compromised.

Be Cautious of Data Breaches in the Future

About 143 million people were affected by the Equifax breach, and that's just one example. To prevent future data breaches, you need to regularly check your systems for vulnerabilities using software that identifies them. Your systems must also be updated with security patches. Additionally, you should develop a plan to follow in case of another data breach.

Upgrade Your Business Insurance Policy

Even if you have taken measures to prevent future breaches, you should still speak with an insurance agent about cyber liability insurance services. In the age of cyber-attacks, this kind of insurance is becoming increasingly important. Any business of any size, as well as individuals, can benefit from it.

Conclusion: Improve Your Cyber Security Measures

Small businesses are vulnerable to data breaches even with the best security measures. Businesses with fewer than ten employees are at greater risk of data breaches since they do not have the staff or budget to take extreme precautions. In these cases, data breaches can be extremely damaging to a business. Installing a strong, secure system is the only way to avoid these breaches. If this system should fail, insurance will be your best bet to keep your business afloat. Make sure to keep these possibilities in mind so that you can be prepared for any security scenario that may arise.

 

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