Data Breach Management

Client or customer information, as well as internal data about your company processes,  transaction history etc, is extremely valuable, making them prime targets for data theft.

 

Systems must be put in place in order to monitor both inbound and outbound traffic, any unauthorised user activity and network security, in order to prevent a data breach.


Data Breaches Can Occur Due To A Variety of Reasons

Hacking

Hackers make small modifications to malware so it’s unrecognized by your firewall, allowing them access to private data.

Human Error

This includes weak passwords & sending sensitive information to the wrong recipients.

Computer/ System Error

Old or outdated security software gives would be data thieves an easy avenue to your sensitive information.

Best practices for GDPR compliant data storage (including: Do I have to worry about the CLOUD Act?)


How Much Do Data Breaches Cost?

The cost of a data breach can reach millions and threaten the future of your company, both due to the financial ramifications and damage to your reputation.

 

In 2018 alone, the average cost of a data breach in the U.S. exceeded $8 million. More than enough to cripple an organization.

"According to the Ponemon Institute's Annual Data Breach Cost Report, the average cost of a data breach by companies employing security automation is approximately half ($2.65 million) of companies not using automated data protection ($5.16 million).

The cost of a data breach increases year on year, in 2017, for example, the cost per record of a data breach was $141, increasing to $148 in 2018 and more recently to $150 per data incident in 2019.

 

Action must be taken, both as a preemptive tactic to prevent data breaches, and reactively, you need to know what to do if a data breach occurs.

COMPLETE SECURITY BREACH MANAGEMENT

FAQ

All those actions in which the security of the data is being altered, causing its destruction, loss or alteration, either accidentally or maliciously.

Data breaches can be intentional, carried out by hackers trying to access private data. They can be accidental, caused by the staff working with the data themselves. They can also be due to failures in the system or software used.

Most international data protection laws require companies to react to data breaches in a specific manner and within a time period.

The EU GDPR, for example, establishes the obligation to report within a maximum of 72 hours after knowledge of the security breach to the competent control authority. If persons may be affected, and there is a risk that their rights and freedoms may be impaired, it would be necessary to communicate the security breach to those affected. 

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