No matter how prepared you are – or believe you are – you can still suffer a cyber-security breach. What you do next can have a profound impact on the reputation of the business, customer loyalty, employee morale, and, ultimately, your bottom line.
An effective communication strategy should follow these guidelines:
- Notify key regulatory and legal authorities as soon as possible, unless this might impede a criminal investigation. Even if notification isn’t required by law, it’s an important courtesy.
- Make sure that staff roles and responsibilities for communicating the breach are outlined and understood clearly.
- Tailor the notification process to the audience – high-value customers, senior employees, or individuals who might particularly vulnerable (such as the elderly, the disabled, and minors) and to the nature of the breach; handle the theft of confidential client information differently than stealing employees’ Social Security numbers.
- Have legal counsel review the method and content of all communications.
- Prepare for media inquiries to deliver a clear message for parties affected directly or indirectly. Be sure that your spokesperson is qualified and trained to deal with the media.
- Provide ways for victims of the breach to ask additional questions and/or learn how to minimize potential harm.
- Test the plan: If you had to execute it, how well did it work, and how did you update it? Many businesses have discovered holes in their response plans after failing to consider the impact of a cyber security breach on daily operations, or underestimating the attention the event drew.
To learn more about spreading the word after a data breach, please get in touch with us.
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Going online has become part of everyday life, whether it is for everyday activities such as shopping, sending email or paying bills, and managing your accounts. But data breaches, in all their forms, can potentially expose the personal information that we share online, putting consumers at risk of identity theft.
According to the 2014 Travelers Consumer Risk Index, 82 percent of Americans worry about loss of personal privacy, and 63 percent worry about identity theft. Fortunately, there are steps that consumers can take, including not opening unsolicited emails and avoiding unsecure websites, to protect their personal information while online.
The following tips can help you learn how to help stay safe online:
Online Shopping
- Research potential retailers to make sure they are reputable and have a secure network and website. Try to avoid buying from a site that does not have a secure socket layer (SSL) encryption installed. In order to do this, look for the ‘s’ at the beginning of a URL – HTTPS:// instead of HTTP:// – to help determine if a site is SSL secured.
- Read the site’s privacy policy to learn how the personal information you provide will be used.
- Use only one credit card for online purchases. Be sure to read statements when received to check for fraudulent or unknown charges or activity.
- If you receive an email regarding sales or discounts from a particular retailer, log on directly to the official website for the business. Avoid linking to it from an unsolicited email.
Emails and Attachments
- Do not send personal information in email or instant messages. Emails are out of your control once sent, and can be easily intercepted.
- Do not click on links you receive by email or encounter online that are suspicious or from unknown sources. Only accept and click if it:
- Comes from someone you know.
- Comes from someone you have received mail from before.
- Is something you were expecting.
- Does not look odd with unusual spellings or characters.
- Passes your anti-virus program test.
- Be cautious of emails you receive regarding your financial accounts. If you are not sure of the email’s validity, contact your financial institution directly.
General Online Safety
- Try to limit the personal information you put on the Internet. Social media sites can be good for networking, but identity thieves can use the information you share.
- Remember to keep your Web browser up to date. This can help ensure the latest security features are installed.
- Avoid storing personal information, account numbers and personal identification numbers on your computer.
- Install firewall and anti-virus software. This can help protect you from exposure to malicious cyber attacks.
- Choose strong passwords and keep them private.
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Breaches in some worldwide retailers could have you wondering if your personal information is safe. After all, those huge conglomerates that have been targeted recently, such as Zappos and Target, have millions of dollars at stake so why would a cyber-criminal want to target a single person? The answer might surprise you.
Valuable Personal Information
Identity theft is a big business in this day and age of inter-connectivity. Whether a cyber crook is a small-time player and simply looking to have a good time with your credit card or they are part of a larger ring that sells the information they obtain, personally identifiable information such as your birth date, current and former addresses and social security number are all valuable to them. With just a few bits of information, these criminals can easily steal your identity, making your life a nightmare for many months or even years.
Email Addresses Sell
Even if a cyber-criminal is not able to get enough information to assume your identity, they can still steal your email address and sell it. Email addresses are valuable to legitimate businesses and criminals alike. They can easily be sold for a nominal amount that quickly adds up for those crooks who are adept at breaching security parameters.
Fraudulent Credit Card Activity
If you are like many people, you assume that retailers that have an online presence are safe to share your credit card information. While huge businesses such as Target have invested millions of dollars into their cyber security systems, it is still possible for them to be infiltrated. You should always see a lock in the address bar of any website that you are inputting sensitive information. Even with this assurance, though, you need to keep a close eye on your credit card statements each month.
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Nearly every aspect of the workforce utilizes the internet at some point throughout the course of any given day. In addition, the majority of Americans have internet access in their homes as well as through mobile devices. Unfortunately, the internet allows for people to conduct themselves unprofessionally or commit crimes, such as identify theft, making unauthorized transactions, or using fraudulent business practices. In order to protect business owners, employees, and every day citizens, many find the purchase of Cyber Liability insurance beneficial.
What is Cyber Liability Insurance?
Cyber Liability Insurance covers a person or group of people from the consequences of unauthorized access to personal information and illegal activity on the internet. Without the need to be physically present for online businesses to conduct transactions, hackers, disgruntled employees, and strangers can cause many complications for a business or person.
“I trust my employees, so should I purchase Cyber Liability Insurance?”
Yes. While you don’t want to appear standoffish to your employees, you will be the one person held responsible for the activity conducted on your premises and online presence. Furthermore, the rise of social media has given millions of people the opportunity to cause irreparable damage to your business’s reputation, which can extend into your personal life outside of the workplace as well. Sadly, the news is riddled with stories of employees deciding to utilize an employer’s resources for their own financial gain, which can include instances of insider trading, promotion of illegal, pornographic material, and driving clients away to other businesses.
In order to protect your investment in your business, or even your own personal life, you need to obtain a policy to cover the risks associated with the use of the internet. While protecting yourself financially, a Cyber Liability policy adds merit to you and your employees’ moral and ethical decisions. It’s better to be prepared for the worst, than to risk financial ruin.
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