We get it. Data breaches are embarrassing. Your first instinct might be to cover up the incident. You want to put it behind you and fast. But being open and honest with the public will actually work to your advantage.
Think about it on a smaller scale. Say, your youngest child writes on the couch with a Sharpie. Your oldest uncovers the mess. The two try to cover the damage with a sheet. Eventually, you are going to remove the sheet and notice the damage. If they had told you sooner, you might have been able to wipe it before it dried. Or at least you couldhave stopped your kid from finishing his "masterpiece."
“The point is sooner or later the victims of the data breaches are going to become aware. Your reputation relies on your crisis management. Keeping things on the down low makes you look guilty.”Reasons for Coming Clean
For starters, sharing news of data breaches helps stop them. The perpetrator will not come forward unless it's to boast about an act of defiance or terrorism. More likely, it's an attempt at some type of theft. In that case, the longer the issue goes undiscovered or undisclosed, the better it is for the bad guys.
Transparency breeds trust in an organization. When you're open about what's happening in your office, your employees have more faith. They don't feel as though you're trying to keep them in the dark. They might even be more willing to be part of the solution. In turn, the public believes you when you speak. After all, trust is contagious.
If everyone knows what's happening, you can more easily get help. You can address the current data breach. Then, you can make reparations. Finally, you can be pro-active as an organization. First, assess how this happened. Next, put into place a strategy for preventing new data breaches.Roll Up Your Sleeves
Get educated! Data breeches are going to be a fact of life for all companies. Everyone is going to be watching Google, Facebook, Twitter as enforcement of the European General Data Privacy Regulation (GDPR) begins enforcement on May 25, 2018. We will all learn about data breeches, public disclosure and the heavy fines that companies will have to pay.
Sometimes, even you are unaware of the data breaches. That's why committing to enterprise-wide profiling of every data source and element is a smart move. Fortunately, there are technologies that can do this at a massive scale with reliability.
When your perimeter defense fails, identifying the breach and individuals affected is the immediate course of action. Finally, you must shore up defenses.
Individuals must also be notified about the incident and what is being done to try to make it sure it doesn't happen again. A good explanation to your customers will include a thorough explanation. Next, you should include a heartfelt apology for any inconvenience. Finally, offer specific steps you are taking to prevent another breach.
In the case of the GDPR you must provide access to all information stored regarding individuals.
Learn more about how to implement enterprise-wide data profiling. This is the best way to take care of all of your company’s various assets, including your brand equity. Getting your enterprise ready fo the new world of data privacy is a must for every C-level executive.
MediSpend University presents a two-part educational series on understanding the new General Data Protection Regulation (GDPR) and assessing company readiness. Prepare for 2018.