What to do Right After a Business Data Breach?

Our security is one of the most valuable things out there. Not only do we need to protect ourselves and our customers, but as a professional business, we need to protect the valuable data and content that we want to promote on our websites, social media platforms and other tools of communication and marketing. When companies are struck by data breaches, loss of confidence in a brand can occur and cause our valuable clients to turn to our competitors. 

What is a data breach?

Simply put, a data breach is a violation of your company’s personal data. This security breach is usually led by hackers who are determined to get hold of your sensitive and protected data in return for a ransom fee. This confidential data is copied and threatened to be transmitted, stolen or sold to individuals who would benefit from such golden material – your competitors. 

Data leaks such as these can cause companies to go bankrupt or expose new plans and projects that could have won them new clients. With the oversaturated market, competitors who are hungry for intel will quickly jump at the opportunity to benefit from a competitor’s data spill. 

Why do data breaches happen?

Data breaches are a very common occurrence and quite a common problem for big time companies like Yahoo, Facebook, Microsoft and Sony. The bigger the company intel, the more valuable the data and the higher the ransom price that can attach to the payout. 

But hackers need to learn somewhere before they target the big dogs; so rest assured that not only multi-million dollar companies are at risk here, even smaller enterprises could be subject to data breaches from time to time. 

Data spills usually happen when factors of identity and security are compromised. Login credentials like strong passwords, two-factor identification, face or fingerprint ID are all great ways to protect your company’s data, but this only works when you update your credentials. 

So what happens if you have all this, plus a killer security system, but still find your company’s data held at ransom to some hacker’s recent data breach on your business? This blog will teach you what to do right after a business data breach, how to approach the situation and who to call for help if panic takes over your judgement. 

Step 1: Think of your customers first

Your customers will need to know about your data leak as soon as possible. Get in touch with them right away to ensure that their identity, their sensitive information and their loyalty to you is still intact. 

When clients are not notified immediately, this could lead to increased financial and personal implications that could in turn affect you as a business. Clients would be able to hold you liable for your errors in security spills. 

Step 2: Make sure all your clients fall inline

Before clients take on your services or join your company, they should be aware of the possibility of data breaches. Downplaying your immunity towards data breaches will only hurt your brand in the long run. Be honest and promise to protect your clients throughout their journey with you as best you can. 

Step 3: Keep your clients in the know

Servicing your clients security needs is not your responsibility, but informing them of the possibilities of breaches and encouraging them to take action would be a considerate and smart thing to do. 4Sight’s security offering range from start-ups and SMEs to huge corporations, we’d be more than happy to give your clients a proper security service in no time.

Now for the action points to regain your data and keep your company identify strong and viable:

Step 4: Find the culprit and localized problems

The biggest culprit for data breaches? Fake email links with dodgy viruses attached to them. Train your employees to stay away from email links that they weren’t expecting or come from an unknown third party. Other security training can also be provided.

Step 5: Update your credentials

When you are subject to a data leak, be sure to update your credentials immediately and never share your details with any other member of staff or third party provider. Keep your credentials updated regularly and use two-factor identification to ensure that your logins are always secure.

Step 6: Start a proper backup

Backing up your content and data is always a good idea. Cloud storage is usually the preferred option and serves as a great starting point for your backup needs. If you’re looking for increased security, perhaps physical servers could provide you with the right peace of mind. 

Step 7: Keep your OS, security software & antivirus up to date

With all your updated operating systems, security software and antivirus providers up to date, your fear of data breaches will lessen. Although this is never a 100% fool-proof plan, with the additional security, you’ll be able to track your company changes and get alerted if any fraudulent behaviour comes your way. 

Subscribing to a security software provider and anit-virus provider will keep you constantly in the know. Their weekly and monthly checks and periodic reminders to update or upgrade your system will give you the peace of mind you need to know your data is secure. Operating systems generally work in the same way with update reminders, so don’t skip that system update on your next restart, it only takes a few minutes and can save you time and money in the long run.

When your company is going through a rough situation such as this, you need to make sure you stay calm and support your customers. So while you focus on keeping your clients happy, your best bet would be to contact a trusted security provider such as 4Sight to manage your data breaches and ensure that all your data is protected from future hacks. 

Give your customers and your company some peace of mind, contact 4Sight today. Prevention is so much better than cure.