How to Protect Your Company from a Data Breach

Posted by: Aimee Sanders

A recent study by IBM found that the average cost of a data breach in the United States is almost $8 million. Additionally, in the first half of 2018 alone, there have already been over 660 data breaches, which compromised over 22.4 million records. This comes as no surprise as companies across the globe are scrambling to protect themselves from the rising threat of hackers. Regardless of size, industry, or experience, the key to data protection for any organization is being proactive. Following these suggested steps will ensure that your critical information is guarded from any unexpected risk.

 

Get All the Players at the Same Table

data-management-team-meetingNo matter how big or small your team may be, it is essential that every individual player is on the same page. This is why regularly scheduled meetings are so critical for overall success. If possible, it’s best to have employees from all involved departments present at each meeting. This ensures that everyone is up to date on your latest data management and protection strategies. Getting key players from areas such as Legal, IT, Finance, HR, Audit, and Records and Information Management to come together for a total team meeting may be difficult to organize. However, it is this type of cohesiveness that will pay off in the long run, and set you apart from your competitors.

 

Maintain Continuous Education and Training

Laws and regulations governing safe information management practices are constantly changing. Therefore, it is essential that your staff knows the latest requirements for your industry. Regulations such as HIPAA, Sarbanes-Oxley, FERPA, and SSAE are only a few of the various government guidelines that now apply to your data management processes. With so many changing rules, you must keep your staff trained and vigilant in order to properly protect your most valuable data.

Many business underestimate the damage that just a single employee clicking on an unsecured link can have. In reality, that one click is all it takes to cost your organization millions of dollars in data breach fines. That’s why it’s critical that your staff knows how to identify and report suspicious emails and content. After all, you are only as strong as your weakest link.

 

Develop an Action Plan

As mentioned earlier, the most important factor in your data protection strategies is being proactive. A great way to get ahead of any potential threats is to develop an action plan. Having a step-by-step breakdown of what to do in the event of a data breach will save you both time and money. The accuracy and timeliness of your response to such a disaster will be crucial in determining the total damage of a breach. That’s why being prepared and ready in any situation is essential.

In order to remain proactive about their security policies, a rising number of organizations are using data breach protection services, such as CSR Readiness Pro.  These industry-leading solutions assess your company’s risk for a data breach and detail any vulnerabilities that exist in your current data protection plan. After completing this assessment, you will be able to implement a plan that can successfully prevent the loss of your most valuable information.

After your disaster recovery plan is complete and integrated, it is important that you perform regularly scheduled assessments. Testing and updating your plan annually can help you identify any gaps that may exist in your current data protection strategies. This will give you time to patch those gaps and ensure that you are truly ready in case of a data emergency.

 

Consider a Breach Reporting Service

data-breach-protection-in-one-single-callIn order to ensure they are protected from any cyber threat, many companies are turning to a breach reporting service. A reputable data protection vendor will offer you a comprehensive reporting package that guides your steps from start-to-finish in the recovery process. That means that in the event of a data breach, a single call to your vendor will initiate research into your required legal responsibilities for breach reporting in your state. Partnering with an industry-leading vendor will also give you peace of mind as they work alongside of you to prepare any notices that you may be required to send out.

At COR365, we believe that being the victim of a data breach is stressful enough. Therefore, finding answers for what you need to do next shouldn’t be. In fact, our Premium Data Breach Protection & Reporting Services from CSR Readiness Pro makes recovery a breeze with three simple steps:

  1. In the event of a data breach, you will collected all necessary information and call the CSR reporting toll-free number.
  2. A Privacy Professional (CIPP) will then conduct an interview to provide a detailed analysis of the incident.
  3. Lastly, a review panel will determine if breach reporting or consumer notifications are required. If so, CSR will then work with you to draft these notices.

With services such as CSR Readiness Pro, the answers to all of your questions are only one call away. Just like that, in three easy steps, your company has fulfilled their legal reporting duties, and is on the road to recovery.

 

Want to Know More?

Whether you are interested in starting a partnership today, or just still have questions. Our team can help! Click here to learn more about our recommended data breach protection practices, or fill out the form below for more information. As always, feel free to contact us to speak with a COR365 representative today. 

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