April 18, 2018 - There's a data breach in your future, whether you believe it or not. As we find more ways to protect our data, hackers find better ways to steal it. The result of these breaches goes beyond the extensive financial cost. Your stock price may drop. Customer trust is eroded. Corporate reputation may be damaged. Recovering from all of these impacts is expensive and time-consuming. Your business continuity plan should include some planning for preventing and responding to these attacks.
The assertion that data breach prevention and preparedness is strictly an information technology security issue could not be further from the truth. (Item #1) Findings of a recent survey show that there are financial and reputational benefits of having an effective BCM program when a data breach occurs. (Item #2) 58 data records are stolen every second... guess what the average cost is. (and view the IBM data breach calculator) (Item #3)
Here are the missteps executives make time and again after a data breach and advice for avoiding these pitfalls. (Item #4) The author offers his own recommendations to help companies regain trust in the age of the data breach. (Item #5) It's always better, if possible, to prevent a data breach than to fix it. (Item #6)
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