Be Informed

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The key step to manage the data breach if it already took place is...

COMMUNICATION: both internal (inform employees and involve everyone able to help, i.e. tech specialist, client service managers, PR & communication team, etc.) and external (direct mailing to the clients, official media release if necessary).

Basic rules in this case are:

  • Be open and sincere
    Admit if the fault was on company's side and accept responsibility.
  • Provide details
    Explain why the situation took place.
  • Mitigate
    Make conclusions out of the disaster and describe solutions for affected users. If possible, prepare a special offer for the affected audience.
  • Report the incident to the Regulatory Body within the prescribed period.
  • Educate
    Explain how to prevent similar issues in the future.
  • Invite to dialogue
    Involve your clients, industry experts, analysts, media people and general public to the broader discussion about the source of the problem.

Source: https://digitalguardian.com/blog/data-breach-experts-share-most-important-next-step-you-should-take-after-data-breach-2014-2015

NetDiligence® Mini Data Breach Cost Calculator

The Data Breach Cost Calculator is one of the most popular tools in the eRiskHub.  Here we allow you to view a sample version that contains simplified results.  The calculator allows you to run a scenario to see how much a data breach could potentially cost your company.  Data breach costs can vary depending on the type of information lost, such as PII, PCI or PHI.  The calculator breaks down the cost by incident investigation, customer notification costs and crisis management, regulator fines and penalties, PCI, and class action lawsuits.

LINK | https://eriskhub.com/mini-dbcc

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