How to Manage a Data Breach
A data breach occurs when sensitive personal information is accessed, acquired, exposed or otherwise made available to unauthorised users. It can be caused by a variety of methods including physical skimming (often with the help of rogue employees), cyberattacks, malware and ransomware, data exfiltration, and employee error and negligence.
Almost all organisations have had to deal with the consequences of data breaches, and they can be devastating. Whether it is customer data, payment card details, confidential documents or login credentials to critical systems – the damage to reputation and trust can be catastrophic. Research has shown that up to a third of customers will stop doing business with an organisation following a breach.
If a breach is not properly managed, the fines and financial losses that a company could face can be enormous. In addition, the loss of consumer trust is often irreparable and may have a significant impact on the long-term success of a business.
A key step after a breach is to understand what happened and how it occurred. Work with your forensics experts to review backup or preserved data, and analyze the access that was granted to impacted machines and user accounts. Then, ensure that those people no longer have access to data that was compromised, and limit their access if it is no longer necessary. Also, review your network segmentation to see if measures such as firewalls or other controls worked, and to identify any holes that need closing.