Data Breach Troubles? 4 Steps You Should Take After One

Data Security | March 8, 2018

Data breaches are awful. Truer words have never been spoken. Whether you’re a business on the receiving end of a data breach or you are a client who blissfully shared information that may now be in the possession of a malicious party, dealing with data breaches is not pleasant at all.

 

A data breach can be devastating to individuals who are immediately placed at risk of identity theft, however, businesses and organisations stand to suffer a lot from the fallout, which is why, if you are a business, how you respond and what steps you take could really decide how successful you are in overcoming the breach and moving forward.

Let’s run through four steps that businesses and organisations should definitely take when dealing with a breach that they’ve just experienced. We start with the obvious move of going offline immediately.

 

Take the difficult, yet necessary, route of going offline

This almost sounds sacrilegious to say with how dependent we are on being online, however, this may be the best way of stopping an attack in its tracks. There is no way to immediately know if an attack is still underway so your best course of action would be to take all your computers and servers offline – immediately! Keep in mind, however, that going offline by no means should include you deleting any sensitive data – this information will be used by cyber forensic experts in their investigations.

If you work with any third-party service providers, like cloud-hosting services, to host your data externally, they will need to be alerted of the breach so they can make the necessary moves to prevent the breach from spreading further.

 

Consult external cybersecurity forensic experts after a data breach

Once you realise you have been breached, immediately reach out to a local cybersecurity firm that specialises in data breaches and data security. Firms that offer these services are invaluable when it comes to navigating post-data breach waters, given that they will often partner with you to inform/work with your clients, work on maintaining your company’s public relations, and, potentially, rebuilding confidence in your business.

If you are a company, business, or organisation that does not have this level of cybersecurity expertise in-house, get help from a firm that can confidently guide you through a data breach.

 

Consult your lawyers and work closely with local enforcement

If you follow the previous tip, you should be halfway there on this front. Most cybersecurity experts are well-versed in the legal aspects of data breaches and can help you get through it. In addition to this, you should consult a lawyer and/or law firm with experience in helping companies through a cyber attack – this individual/party should work in tandem with the forensic experts you hire.

Different countries will have their own versions of laws and requirements of how companies should deal with breaches – the bare minimum being companies having to inform victims that their sensitive information may have been breached. Your legal counsel should be able to inform you of all your local requirements and help you and your business navigate the crisis.

 

Do not stay quiet and try to push it under the rug

Several large companies (think Uber) have experienced data breaches in recent years and assumed it was a good idea to hide knowledge of this from the affected parties for as long as an entire year – spoiler alert, it wasn’t. No matter how severe your breach may be or how concerned you are about the potential backlash, keeping news of a breach quiet can do far more damage than being open about it. This is not just about maintaining your business’ image – it’s got a lot to do with mitigating the impact of the breach. Think about it – if you fail to keep the affected parties informed, they would have no idea that their information has been compromised and thieves would be able to use this information maliciously.

Even if you do decide to open up about the breach, it may be tempting to stick to doing the bare minimum of what is legally required. Go beyond this – make it about your clients/customers and make sure you are doing everything you can to make them feel comfortable.

 

How can IAME’s tech address this issue?

With the IAME system in place, the impact of data breaches would be significantly mitigated, given that no information would be stored, nor would it be shared in a meaningful form that can be stolen and used maliciously. The IAME approach essentially transforms this data into “hack-worthless” information.

 

If you would like to know more, please visit our Website and read our White Paper. Any feedback, comments, or questions can be asked directly to our team by visiting our Telegram Channel. For updates on IAME, you can follow us on Linkedin, Facebook or Twitter. Stay tuned to our blog series, for more of the latest news in the crypto and blockchain realms.