It only takes one cyber-attack to devastate an operational system. Most companies take steps to prevent a security leak. However, new cyber security threats and vulnerabilities appear daily. As technology dependency increases, so do the vulnerabilities of anything connected to the internet.
Cyber breaches typically are detected after the attack. So, early detection is key to reduce the impacts.
Cyber breach risks include: Loss of information that can be critical to running your business; Negative impact on customer confidence; regulatory fines (if applicable); and decreased or stopped productivity.
To begin these steps are recommended:
Companies might also want to consider protecting their business with cyber insurance. Preparing for an attack is the best defense. Cyber insurance helps businesses recover financial losses and pay for recovery steps, such as credit monitoring and notification of affected parties, attorneys’ fees and even the investigation of the breach. Be sure to review, in detail, to understand the types of attacks that are included in the policy.
By raising awareness within your company and being proactive, businesses can better position their companies to face a data breach or cyber-attack.