How to Respond to a Data Breach
A Data Breach happens when hackers get access to sensitive information, including passwords, financial account details, medical records and social security numbers. The cybercriminal can then use the information for identity theft or other malicious activities. These activities include selling the data on the dark web, making fraudulent purchases, and committing financial fraud and other crimes.
The types of information accessed by attackers vary depending on the type of breach and the industry. For example, the breach of Marriott hotels that affected 500 million customers involved credit card accounts and personal information such as names, dates of birth and a person’s gender. In another incident, hackers compromised point-of-sale (PoS) machines at a retailer and exposed personal and financial information of up to 143 million consumers.
When a data breach occurs, companies must take immediate action to limit damage and protect unaffected users. The first step is to stop additional loss by shutting down the compromised system or networks. The next step is to notify affected individuals and explain what information was accessed. This is an important part of building trust and maintaining legal compliance.
It’s also essential to conduct a thorough investigation into the breach to determine its cause and what preventative measures can be put in place to avoid future incidents. Lastly, it’s important to monitor accounts for suspicious activity and change passwords. This will help limit the potential impact from identity theft and financial fraud. If you’re unsure of how to respond to a data breach, contact a qualified advisor.