Data breaches
Every business deals with sensitive data of some kind, which makes every business a potential target for criminals and hackers. Proper security and data management can reduce the risk of anything becoming compromised, but technology and criminal ingenuity moves fast. If a breach happens, it’s what you do next that counts.
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Experian is here to prepare your business before a data breach occurs and to aid in breach resolution, mitigating the impact on your customers and helping you continue day-to-day operations with minimal disruption. To find out exactly how to solidify your data breach response program, click the following headings.
While your business will certainly be affected, a data breach will hit your customers hardest. A breach of their personal data is not only a violation of privacy, it makes the victims direct targets for identity theft and fraud. If your business is holding data, you need to protect it for their sake, and do everything you can to keep your customers safe if their data does fall into the wrong hands.
Find breaches fast
Customers expect their personal data to be secure. If it’s exposed, the very least they expect is immediate discovery and resolution. Services like Experian’s Identity Plus and IdentityWorks Global could help detect the signs of a data breach by revealing potentially fraudulent activity on individuals’ accounts and automatically alerting them if personal information has been found online.
Be ready to respond
If your business detects a data breach, your customers deserve a robust, fast response; 78% of respondents to Experian’s 2022 Data Breach Consumer Survey said their organisation had experienced a crisis in the previous 18 months. A data breach readiness plan, such as one developed with Experian’s Consumer Response Team, can ensure your in-house resources are ready to effectively manage a crisis as soon as it is discovered.
Minimise damage
The way you manage your customer data can make all the difference between a breach being serious or minor – or even potentially prevent it from happening in the first place. With the help of a tool like Experian’s Data Cataloguing service you can transform your existing records to isolate sensitive data, all while making your internal customer views more efficient.
Go global
Data protection varies across international borders, and your data breach response plan needs to be cognisant of this: your legal responsibilities regarding storing data or dealing with a breach are likely to vary across different countries. Preparing your response in conjunction with an expert team like Experian’s Data Breach Readiness Service can help you protect your customers worldwide.
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However good your information security procedures may be, your business needs to plan for them to fail. Knowing precisely what do to when a data breach happens can make the difference between a smooth, speedy resolution and a PR disaster. Ensuring you’re properly prepared could also prevent your business incurring massive fines – here’s what you need to do.
Create a plan
It’s the responsibility of your business to act immediately when a data breach is discovered. Under UK GDPR law, failing to notify the ICO of a serious breach could mean a fine of up to £8.7 million or 2 per cent of global turnover. Proper policy development, created in conjunction with experts such as Experian’s Data Breach Readiness Service, is a must for any business storing sensitive data.
Prepare your data
What are you storing? How healthy is that data? It may seem counterintuitive to ensure your data is accurate in preparation for it to potentially be breached, but correct details will be essential if you later need to inform customers. Look for a service designed to make sure everything is up to scratch. Experian’s Data Healthcheck can do this, plus it helps to ensure your data management is compliant with GDPR should the worst happen.
Get employees on board
The strength of modern information security means phishing has replaced hacking as the most common cause of data breaches. The FBI’s 2020 Internet Crime Report suggests phishing breach incidences are doubling year-on-year. Your next data breach is most likely to come from a naive employee rather than an outside attack – but with a data breach training plan in place, potentially aided by the Experian Response Ready portal, your team can put best practice first.
Test your response
You can’t afford to wait for a data breach to happen to find out if your business is ready to handle it. Operational scenario testing, offered by services like Experian’s Data Breach Readiness Service, will prepare your teams precisely with response drills, help refine your breach plan to better suit your business, and demonstrate to key stakeholders that every possible precaution is being taken.
Remember remote workers
Experian’s latest Data Breach Preparedness study suggests that while 89% of organisations have a data response plan, more than half do not include preparation for breaches caused by remote workers. Today’s working climate has changed: reassessing your current plan with the help of a structured programme like Experian’s Data Breach Readiness Service can bring it in line with modern working practices.
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Your sensitive data has been breached – what now? It’s time to jump into action and remediate as best you can. This inevitably means a high volume of ongoing work, but with proper planning and resource management you can get the balance right, assist affected customers fast, and continue your day-to-day operations.
Get extra help
Dealing with a data breach is resource-intensive. Putting together your initial breach response plan will offer some indication of the staff and services required, but immediately finding additional capacity when an incident occurs may be difficult. Don’t be afraid to call in reinforcements. Services like Experian’s Guaranteed Reserved Response scheme can offer all the additional resources you need, precisely when you need them.
Contact customers quickly
Your business is responsible for the unpleasant task of informing customers of a breach so that they can safeguard their own personal information. Pulling off large-scale customer outreach at short notice is not easy, particularly on a global scale, so outsourcing email, SMS and postal response externally – through Experian’s Consumer Notification Service, for example – may be the best way to get the word out worldwide.
Offer extra assistance
Information breaches are worrying for customers, and many will turn to you for additional advice on what to do next. The task of managing incoming enquiries doesn’t have to fall on your shoulders directly, though. Standing up a third-party response team such as Experian’s Call Centre, Live Web Chat and Email Response Service brings you a first line of contact armed with everything your customers will need to know.
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