Gone are those days when hackers would only target organizations that had the highest value. With the rise of internet and hackers being able to hack into computers more easily due to the availability of more efficient hacking tools that are, even SMEs (small and medium enterprises) are investing money and time to tighten their cybersecurity and increase the layers of protection.
It is always best to follow a protocol or a plan when the security of your company’s data has been compromised, rather than panicking and running around not knowing what to do. Here is a crisis plan from The Scarlett Group that you can follow if you have company falls prey to cyber fraud.
Identify the security breach and investigate the amount of damage caused.
The first thing a company needs to do when it has been hacked is to identify the security breach. Now, this can take a very long time, but once the company has identified the security breach, might help them get a complete picture of the crisis.
After identifying the breach, it is important to investigate the amount of data that has been compromised. This process involves detecting the mode through which hackers got in, the data, the user accounts, and the computer devices that have compromised and also knowing if any customers’ accounts have been affected during the breach. To do this, the company might have to involve consultants who have expert cybersecurity knowledge, the FBI who can help the company by performing forensic analysis and other police cybercrime units.
Don’t let the cyber attack spread and affect all of your data.
After you have analyzed the breach and done the necessary investigation, you need to work efficiently to contain the crisis. Now, taking the systems offline is definitely not gonna help you especially after it has been attacked. You might just end up losing additional data if you plan to pull the plugs off all of your machines. It’s best to take only those systems and servers offline which were compromised during the cyber attack.
Containing the attack also requires the company to check if there is any offensive content that has been posted on the company’s website or if it has been sent to the customers using the company’s identity. The company is allowed to keep a safe copy of the illegal content as proof.
Craft an Incident Response Plan
An effective incident response plan ensures that the response to a particular incident or crisis is consistent, predictable and easily measurable. An effective incident response plan must be drafted at least once a year. This plan should contain a map that will give you an idea of what your network and server look like which will make it easier for you to identify the possible vulnerabilities. It is also recommended to include the contact details of your legal officers, attorneys, and forensic experts who can help you in communicating about the breach to your customers.
Get a good cyber insurance policy.
Not having a good cyber insurance policy might cost you a lot. You might have to end up paying the attorney whom you have hired to look into the legal aspect of the issue, and you might also have to pay the forensic fees and other fees that are related to communicating with your customers. These fees might have otherwise been covered by a cyber insurance policy. Having a decent cyber insurance policy might make you feel less panicky during a security breach situation.
Inform your stakeholders about the breaches
It is important, to be honest with your customers, partners, and employees, especially with the ones whose data has been affected. Be clear and honest and tell your affected stakeholders about the entire situation. Tell them the reason for their data being compromised and reassure them by telling them what you are trying to do to contain the problem. While communicating with your affected customers is a legal obligation, one that you cannot avoid, telling them the truth can help maintain their trust and your relation with those affected customers.