66% Of Businesses Don’t Recover From Hacking – How To Be Part Of The 33%

by Klaus on February 14, 2018

in Articles

Two-thirds of businesses around the world are not only hacked but never recover according to a study. Modern day companies have to put up with the fact that thieves can steal information at the click of a button. Cybersecurity affects the whole of the business and every single member of the team must understand and execute their jobs. After all, when you rely on the internet it’s a case of ‘when’ and not ‘if’ you will be subject to an attack.

Reading the stats should give you cause for concern. 66% is a huge number and means the odds are high that you could be part of the majority. So, when a breach is found, it’s imperative to act as quickly as possible to stem the tide. Plus, it gives the firm the best opportunity of bouncing back.

With that in mind, the following are the steps to help the business recuperate after an attack. Hopefully, the advice below should prevent your company from being a part of the minority.

Have A Plan

It’s essential to understand that these tips aren’t in chronological order. For the most part, you will need to think about all of them in conjunction to limit the damage. However, one step that does go at the head of the sequence is a business continuity plan. Quite simply, it’s a fancy name which details how the business will stop an attack and the subsequent plans for action. For example, it may be company policy to rotate and mix up passwords after every quarter. That way, the glorified burglars shouldn’t be able to secure a password which lasts longer than a couple of weeks. Others prefer to create strong codes and keep them, relying on them being well-built enough to survive a brute force attack. However, they do back up data just in case the worst happens. Being able to perform a factory reset is the best way to recover from a disaster, which is why cloud computing and offline storage are crucial.

Figure Out The Scope

Bosses often don’t know there is a problem until it’s too late. Back in 2013, Facebook alerted users that hackers had placed malware on the laptops of company employees. That is a single example of how sophisticated and sneaky thieves are in this day and age. Once an issue has been identified, it’s vital that you ask the right questions to figure out the scale of the breach. For example, when was it noticed? What type was the attack? Which systems have been affected if any? These three queries should provide perspective so that you know how to act next. If it was seen late, the first step should be to assume the entire business is infected, for instance. Otherwise, there is no way of knowing which areas you can and can’t trust. Most importantly, try and ask what the point of the attack was as it should help prevent future breaches.

Call A Pro

As soon as a leak is uncovered, it’s time for a team of professionals to spring into action. You want them to isolate the damage ASAP for the sake of the firm. Of course, this isn’t possible if you don’t have a dedicated team in the first place. And, lots of companies don’t because the specialists cost too much and put too much pressure on the business. Remember that money is tight and you may not be able to afford a crisis unit on retainer. With that in mind, consider outsourcing the job to an expert. Outsourcers are professionals in their right and are very affordable. In fact, stats suggest that using third parties is a fantastic way to cut costs and boost standards. Always search for feedback before making a final decision to cover your exposure. Even better, ask peers and friends for recommendations. People that you can trust will answer honestly and without bias.

Write Cheques And Take Names

The fire is out, which means it is time to start the rebuilding process. Understanding where to begin is difficult because a breach is a complicated thing, so start with the basics. Firstly, make a hierarchy of needs which ranks the essential areas at the top. By doing this, you can see quite clearly where you need to focus the restoration efforts. Let’s face facts – no boss can afford to write a cheque and waste money. Worse, you don’t want to throw cash at an ‘insignificant’ problem when there are bigger fish to fry. Secondly, you will want to concentrate on writing down the key statistics regarding the breach. For instance, you should find out things such as what technique was used and where the break-in began. Making a list of facts and figures allows the company to see where and why the attack happened in the first place which is essential for later.

Communicate And Communicate Some More

Managers think taking concrete action is the only way to recover. There’s no doubt that installing a new antivirus software program does tighten security and improve the state of mind. Still, recuperating after a loss is about communication. No, you don’t have to talk about your thoughts and feelings if you don’t like. It isn’t therapy and you are not in the chair. However, everyone throughout the company has to relate vital information back to the people who can make a difference. It starts, as always, with the IT department which locates the source of the hack. Anyone that was involved, directly or indirectly, needs informing for future reference. Also, don’t forget about the impact of general feedback. Employees that weren’t at fault may think they are not involved but that isn’t the case. One worker may have been at fault, but it could have been anyone in truth. So, publish new rules and regs and codes of conducts and get the office to study them to improve standards.

Tell The Customers

Admitting that you put their sensitive info at risk isn’t a pleasant conversation, but it’s necessary. Uber decided it didn’t want to inform passengers of a breach and lost faith and loyalty as a result. The company also lot its licence in London, which is further proof of a large-scale kick back. The first step is to release a presser that lists the important details and educates the public what happened, by who and why. Transparency is the key in these situations. Next, think about how you can appease angry consumers. Customers won’t be happy and they will want retribution, which could be fatal. Liaise with the customer relations and PR teams and come up with a compensation scheme to negate irate phone calls and legal action. Finally, assure the public that you are strengthening security and it won’t happen again. Trust is essential and companies without it lose lots of custom.

Prepare For Lawsuits

What happens when you mix a lawyer-happy culture with culpability? You end up enjoying a day in court biting your nails. Some individuals won’t be happy with a ten percent off discount code and will want a ‘proper’ form of compensation. In layman’s terms, they’ll sue and try and milk the business for as much cash as possible. It’s impossible for a business to talk a customer out of legal action, which is why you need to prepare. Speak to a defence team and figure out how to limit the damage. Better yet, talk to the police and find out who did it and why as the answer may relieve you of any responsibility.

So, will you be a member of the 66% or 33% percent club? The decision is yours alone.

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