Tech
DIY: 3 steps to handling data breach
If you so much as gather or store customer, supplier, or employee data, including sensitive information like payment details, you have a cyber-risk exposure.
Your reputation is everything, so if you experience a data breach, your customers may view you as being untrustworthy and take their business elsewhere.
What’s more, failing to meet data breach requirements may hold your directors and officers liable for their inability to implement the necessary safeguards.
If you so much as gather or store customer, supplier, or employee data, including sensitive information like payment details, you have a cyber-risk exposure and listed below are three ways you can handle data breach.
Read also: Bristol Airport hit by suspected ransomware cyber attack
1. Contact the relevant supervisory authority of a breach within 72 hours: Directly contact individuals affected by a breach if it is likely to result in a high risk to their rights and freedoms. (Note: The Information Commissioner’s Office (ICO) defines a high risk as “the threshold for notifying individuals is greater than notifying the relevant supervisory authority”).
2. Complete a breach notification containing the following information: The categories and number of people affected by the breach, the categories and number of personal data records affected by the breach, the name and contact details of the data protection officer or an additional contact where more information can be obtained, a detailed description of the breach’s potential consequences.
3. Consider Cyber Insurance: There are now many cyber insurance solutions available, which includes more than just helping to resolve the “hacking” itself, but provides an emergency response in the event of an incident. The extensive cover available typically includes Cyber, data security, and multi-media cover; this covers any allegations of loss from the firm’s customers, including all defense costs.
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