Experian Helps Companies Improve Data Breach Preparedness Efforts

New Data Breach Response Guide provides insight for businesses on how to better prepare and respond to cybersecurity threats

 

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Costa Mesa, Calif., October 5, 2018 — In today’s ever-changing cybersecurity landscape where new threats appear on a daily basis, a robust data breach response plan is crucial in safeguarding against cyberattacks. According to Risk Based Security, there were over 5,000 reported data breaches worldwide in 2017, and the Identity Theft Resource Center says there were over 1,500 in the U.S. alone.

 

Experian’s new Data Breach Response Guide, launched in tandem with Cybersecurity Month in October, provides in-depth strategy and tactics on how to better prepare for and manage a security incident. According to Experian, businesses should keep pace with cybercriminals’ latest tactics, further engage the company’s C-Suite, and engage external partners, such as law enforcement or regulators.

 

“When it comes to preparing for cybersecurity threats, businesses should ensure they have the right people and processes in place well before an attack occurs,” said Michael Bruemmer, Vice President of Data Breach Resolution at Experian. ”Our research shows that while 88% of organizations have a data breach plan in place, less than half think it’s effective.  The quicker a company can implement a data breach resolution plan that works, the faster it can mitigate the potential harm an incident can cause to the business.”

 

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Experian’s Data Breach Response Guide also points to the latest tactics that cybercriminals are using in their hacking techniques, such as artificial intelligence, machine learning, and cryptomining with the rise of Bitcoin. With the help of artificial intelligence and machine learning, for example, cybercriminals can enhance traditional hacking techniques like phishing scams or malware attacks.

 

Bruemmer advises that, at the minimum, large-scale businesses should conduct a comprehensive audit of their plan and ensure the following:

 

  • Engage the C-Suite: Illustrate the impact a data breach can have on a company’s financial standing and reputation.

 

  • Assemble a strong response team: Engage internal departments and external influencers as early as possible, including forensics partners, legal counsel, communications partners, and your local FBI cybersecurity officer.

 

  • Conduct response exercises routinely: Ensure all departments are aligned with breach response requirements, test your plan, and involve all areas of the organization during implementation.

 

 

To download the full report, visit http://www.experian.com/data-breach/2018-2019-data-breach-response-guide.html

 

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