Many companies are hit with data breaches every year, either as a result of their own mistakes or a hacking attack that was specifically targeted to them. However, despite how common this type of occurrence has become in the past few years, some still may not have an idea of what they should do when such an incident hits them.
The fact of the matter is that small businesses in particular are now being targeted for hacking attacks more frequently, and may not have the proper security protocols in place to sufficiently protect themselves from an accidental data breach, and yet many still do not have even a simple plan in place to protect themselves and deal with the fallout, according to a report from Business 2 Community. These plans do not have to be elaborate or overly-detailed, because taking even simple steps to handle the immediate aftermath of a data breach can go a long way toward making sure a company is at least somewhat protected.
One of the most important things companies can do in the immediate wake of finding out they’ve suffered a data breach, either as a result of an intentional attempt to improperly access data or when a mistake is made, is determine exactly what happened, the report said. This way, companies can start figuring out who to put in charge of the cleanup and what steps need to be taken next.
Of course, when trying to determine which methods they will use to deal with the issue, companies should also keep in mind what federal and state regulations they will need to follow, the report said. Most states have data breach notification laws that spell out exactly what companies have to do to let people know about the incident and specific timelines for when the letters have to be sent out to those affected. When sending out these notifications, however, small businesses will likely have to keep a close eye on what they reveal and what steps they are taking to remediate the issues that might arise as a result.
When trying to formulate a plan for dealing with data breaches, owners may also want to consider their costs for related small business insurance policies. Tech insurance can help to significantly reduce costs following such an incident, which can be extremely beneficial. Often, the price tags associated with cleaning up a breach can reach into the hundreds of thousands of dollars.