Data breached? 5 ways to reduce the impact on your business.

We’ve posted a lot of articles on how to avoid a data breach (here are a couple of recent ones for you to review if one hasn’t happened to you so far and you’d like to keep it that way).

Unfortunately, we fear that if you’ve reached this article you may be part of the growing number of business owners whose data has been breached (in 2020 there were 700,000 attacks on small businesses with damages exceeding $2.8 Billion).

Data breach severity varies widely, from an employee email being temporarily hacked all the way to having your backups infiltrated and locked for a ransom – and even if you pay the ransom you still might not recover your data.

So if you’ve experienced a significant data breach and wondered what you could have done to have a better outcome, or even if you’re in the midst of one now what should you do?

Here are our top five tips for reducing your data breach costs (now or in the future):

1. Damage Control – Turn to the pros (like us) when it comes to recovering your data in the event of a breach, they will have access to tools that could recover data that will otherwise be lost if decryption efforts fail in the hands of someone who doesn’t know what they’re doing. Bottom line, know who you’re going to call in an emergency and don’t be afraid to get their help sooner rather than later.
2. Downtime Mitigation – Downtime is one of the most expensive elements of a data breach, if you don’t already have a disaster recovery plan a previous breach can highlight exactly what needs to be a priority in your business if your data is unavailable. Also, a team like Valley Techlogic can help you create a disaster recovery plan.
3. Turn to Your Vendors – Your vendors may have some methods for assisting you in the event of a data breach. For example Microsoft has a shared responsibility model for data but if you have Microsoft 365 and use OneDrive, some of that data may still be safe on their end and accessible to you (once your devices have been cleared and are safe to use).
4. Be Transparent – If your business is very customer facing, an outage in your business caused by a data breach may be very obvious to them. We don’t recommend trying to hide the fact that a breach has happened but instead being transparent about what happened and what you did to fix it, and how you plan to prevent it in the future.
5. Cyber Prepared – The best way to recover financially from a data breach is to have cyber insurance in place before the attack happens, while it may be too late for a past breach you can prevent future financial loss by using our guide to reviewing and obtaining cyber security insurance here.

Of course, an ounce of prevention is worth a pound of cure unfortunately when it comes to cybersecurity attacks. We would be remiss not to offer a few tips on preventing a data breach specifically. You can grab this checklist to make sure these items are covered to prevent future data breaches:

If you’re currently dealing with a data breach or have dealt with one in the past and want to prevent future breaches, Valley Techlogic can help. We are experts in cybersecurity and use industry best practices to provide the best security coverage for our customers that is also cyber insurance compliant. Learn more with a consultation today.

Looking for more to read? We suggest these other articles from our site.

This article was powered by Valley Techlogic, an IT service provider in Atwater, CA. You can find more information at https://www.valleytechlogic.com/ or on Facebook at https://www.facebook.com/valleytechlogic/ . Follow us on Twitter at https://twitter.com/valleytechlogic.