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Learn strategies to respond in a timely and effective manner.
January 13, 2024
Even with top-notch security measures, cyber-attacks are an all too real possibility for small businesses.
Statistics suggest that over 40% of data breaches involve small businesses. Additionally, Verizon’s 2022 Data Breach Investigations Report reveals that smaller firms are highly vulnerable to malware, ransomware, and social attacks.
As a result, what your firm does in the wake of a data breach is as crucial as the cybersecurity measures you take to prevent such violations in the first place. A practical and timely response can help you neutralize a breach quickly, minimize the impact, and reduce the cost of the cyber incident.
But the big question is: What should you do if your organization becomes a victim?
Once you have detected a breach, immediately take action to contain the breach and secure your systems and devices. This entails:
Next, put your best foot forward to investigate and assess the damage caused by the cyber attack. This involves:
Further, consider bringing in an external data security expert to help identify the point of compromise and understand the scope of the breach.
This step might be the key to tracking down the attacker. Consider taking the following actions to save the evidence of the cyber attack:
Make a public announcement through a press conference, email, social media, or website notification to ensure the regulatory authorities and all the affected parties are informed about the data breach. While doing so, ensure to:
The last step is to prepare and plan to prevent future cyber-attacks and data breaches. In this regard, ensure to:
Acting swiftly and decisively is crucial when facing a data breach or any other cyber-attack. The steps above will guide you through the initial response, helping you minimize the damage and protect your firm.
Want to know more about startups and what it takes to get started? Since 2006, Escalon has helped thousands of startups get off the ground with our back-office solutions for accounting, bookkeeping, taxes, HR, payroll, insurance, and recruiting — and we can help yours, too. Talk to an expert today.
This material has been prepared for informational purposes only. Escalon and its affiliates are not providing tax, legal or accounting advice in this article. If you would like to engage with Escalon, please contact us here.
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