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A data breach is a security incident in which sensitive information is accidentally disclosed to unauthorized users beyond their intended permissions or is misused by authorized users. It can have significant repercussions including fines, lawsuits, loss of business and reputational damage. Even with strong preventive measures, organizations face constant threats and must be prepared to respond quickly when a breach does occur.

The recent Equifax hack revealed the names, addresses and Social Security numbers of 153 million Americans as well as their driver’s license numbers, credit card numbers, and other personal information. It also exposed the dates of birth for many of those affected, which could be used to commit identity theft. This is just one example of how cyber criminals seek to exploit vulnerabilities in hardware and software.

Companies should have a clear plan in place for responding to a Data Breach, including working with forensics experts to discover what information was compromised and how many people were affected. They should also check if they are covered by the US Health Insurance Portability and Accountability Act (HIPAA) or the Payment Card Industry Data Security Standard (PCI DSS), which require them to notify individuals and, in some cases, the media when sensitive information is stolen.

Companies should also consider offering support to the victims, such as free credit monitoring or a freeze on their credit files. This can help hinder identity thieves from using stolen information to open new accounts, especially when the information involves financial details or a person’s Social Security number.