We can’t cope with another data breach
How would your company cope with a data security breach?
As technologies develop and businesses increasingly turn to online and digital solutions, organisations are now storing unprecedented amounts of data in the cloud, on computers and other devices. But how safe is your business-critical IT system in this increasingly online world? Is your company doing all it can to protect its network and its clients from the threat of a cyber breach, or have you already experienced a data breach or cyber attack on your IT network? With a proliferation of cyber-criminal activity occurring on a daily basis, it is essential to know that your company is protected from the threat of cyber attacks, data leaks or privacy breaches.
Protect your company from cyber attacks and data breaches with PrimenetAt Primenet we work with a team of experts, specialising in industry-leading, cutting-edge cyber threat detection and mitigation to ensure we implement the most up-to-date, highest quality solutions to surpass the demands of your organisation. From proactive penetration testing to managed detection and response solutions, cloud security and even protection for your connected devices, our solutions will ensure that your organisation and your valuable data is protected from a disastrous data breach in the ever-growing world of cyber attacks.
Before we start, our team will take the time to sit down and listen to you. Every business has different needs and demands of their cyber security system, so our experts will work with you to assess potential threats, plan and design a customised solution to protect your business and provide comprehensive implementation of your chosen solution.
Primenet provides an efficient and cost-effective way of achieving your security goals and protecting your company against data breaches. Our team of fully trained analysts and consultants are working for you 24/7, constantly reviewing your security status and dealing with alerts as they happen.
Data Breach FAQ's
What is a data breach?
A data breach is an event or incident where information is compromised and stolen from a system without authorisation from the system owner. It may be any mode, like accidental, intentional, unlawful destruction, alteration or personal data transmission, etc. Stolen data may involve sensitive or confidential information.
How long do you have to report a data breach?
As a data breach impact involves high-security risk, a delay in reporting the breach results in hefty fines and penalties. The capability to monitor and detect activity is the key to accelerate breach detection without causing business disruption. Reporting the breach as early as possible is always recommended adherence to organisational reporting procedure.
Original requirements from GDPR have been executed for all organisations to report certain types breaches within 72 hours of the business becoming aware of the breach, with best possible efforts followed in the event of a data breach.
What are the consequences of a data breach?
The most common consequences of a data breach are in the following areas;
Diminishing reputation; Normally, it takes a long time for an organisation to build customer trust and a strong reputation. A data breach not only affects business reputation but can lead to a loss of customers and stakeholders.
Financial loss; Financial implication for companies includes the cost incurred to make the required repairs to the company data. Financial loss is a direct impact because the damage to the organisation affects the ability to be competitive in the marketplace. Your customers may move on to competitors, affecting company profits.
Operational impact; Data breaches can significantly impact business operations depending on the severity, also resulting in a complete loss of crucial data. If an organisation has a data backup, then the recovery process is comparatively easier. However, if there is no backup in place, the cost to rebuild the database from scratch is very high.
Fines and penalties; Sometimes, fines and penalties for a data breach could be more than to survive the business in the market. Nowadays, maximum fines for data breaches have significantly increased, and failure to comply leads to higher penalties and punishments.
Employees insecurity; As a result of a data breach, employees bonuses, promotions and incentives are affected, and some even risk not only losing their job but their career.
Legal actions; Some organisations may have to face and handle legal actions. In some cases, authorities can prohibit companies from performing certain business operations. Especially if the company is dealing with any confidential user information, then almost certainly go under some form of legal requirement and leads to high penalties via lawsuits and settlements.
What constitutes a breach of data protection?
A data breach is not always considered as a compromise of data, whether it's through a hard disk, USB, email, hacked websites, etc. Sometimes it is unintentional through incidents like a fire or accidental deletion where no backup exists.
Many organisations misunderstand the types of compromises that need reporting under the General Data Protection Regulation. We need to be aware that a breach of security may occur accidentally. At this point, if an organisation suffers from a breach, and decides that it does not meet the criteria to report it, the business is still expected to formally document the justification for the decision and keep it for future reference. Sometimes even a few data breaches may not require reporting if there is proof that the data was deleted before being accessed and distributed.
What to do when your data is breached
- Report to the security team.
- Confirm the breach and collect the information related to breach like type, exposed information, personally identifiable information.
- Change all affected passwords and login.
- Monitor company and user accounts closely.
- Contact the relevant affected department.
- It’s wise to accept the breached company demand and offer.
How common are data breaches?
Over the past decade, the exposure of data has become a common which includes passwords, credit card numbers and company confidential data. For many businesses, a data breach can be a disaster. We hear about data breaches more frequently, which indicates not only are they more common but also have become mandate that companies need to report data breaches as per laws.
What causes data breaches?
- Weak passwords are easy to hack and steal credentials.
- No periodic update on security patches.
- Application vulnerabilities.Malware contamination.
- Not proper or outdated AV running on a system.
- Physical theft over a device like a USB or a smartphone.
- Accidental human error.