A cyber security breach, or data breach, is a security incident that has resulted in the unauthorized access of sensitive data or information. For companies, this could include the loss or theft of customer information, financial records, and more.
Around 817 data breaches were reported in the United States since 2022. Reports revealed that about 45% of the data breaches were cloud-based and that a majority of them were caused by malicious or criminal attacks. In 2022, the average cost of a data breach rose 2.6%, increasing from $4.24 million in 2021 to an astonishing total of $4.35 million. The most affected industries were finance, government/military, and healthcare.
The good thing is that there are steps you can take to prevent or reduce the impact of a cyber security breach. In this guide, Oppos Inc. Cyber Security Assessment and Compliance Consultants outlined the steps you should take in case of a cyber security breach.
In this Guide:
What is a Data Breach?
A data breach occurs when an unauthorized individual gains access to sensitive, confidential, or otherwise protected information. This can happen through a variety of means, such as hacking into a computer system, stealing a physical storage device containing data, or simply viewing data that was left unprotected.
Once the data is accessed, it can be used for malicious purposes, such as identity theft, fraud, or malicious code injection. Data breaches can also cause reputational damage to the organization whose data was breached, as well as financial damage if the sensitive information is used for illegal or unauthorized activities.
Here are some examples of data breaches:
- Capital One Data Breach – In 2019, a hacker stole personal information of over 100 million Capital One customers, including names, addresses, credit scores, and Social Security numbers.
- Equifax Data Breach – In 2017, Equifax, one of the largest credit reporting agencies in the US, suffered a massive data breach that exposed sensitive information of over 147 million people, including names, addresses, Social Security numbers, and birth dates.
- Yahoo Data Breaches – In 2013 and 2014, two separate data breaches at Yahoo exposed the personal information of all 3 billion user accounts, including names, email addresses, telephone numbers, and dates of birth.
- Marriott International Data Breach – In 2018, Marriott International suffered a data breach that affected up to 500 million guests who had made reservations at Starwood Hotels and Resorts, which Marriott had acquired. The data breach exposed sensitive information, including names, addresses, phone numbers, email addresses, passport numbers, and payment card information.
- Target Data Breach – In 2013, Target suffered a data breach that exposed the credit and debit card information of 40 million customers, as well as the personal information of 70 million customers, including names, addresses, and telephone numbers.
- Home Depot Data Breach – In 2014, Home Depot suffered a data breach that affected 56 million payment cards and exposed 53 million email addresses.
- Uber Data Breach – In 2016, Uber suffered a data breach that affected 57 million users, including names, email addresses, and mobile phone numbers, as well as 600,000 drivers’ license numbers.
These are just a few examples of the many data breaches that have occurred in recent years. Data breaches can result in significant harm to individuals, including financial loss, identity theft, and loss of privacy.
What could happen if your business doesn’t have cyber security?
How Do You Respond to a Data Breach?
In the event of a data breach, it is important to act quickly and effectively. Here are some steps you should take if your organization experiences a data breach:
Understand the scope and notify internal stakeholders
It is important to figure out how much information was taken during a data breach. This helps you understand the damage and know what to do next. In order to understand the scope, the IT staff should perform a thorough investigation to answer the following questions:
- How many systems were affected?
For instance, when an organization falls victim to a cyber attack on its databases, the IT department must assess how many systems were affected and if they contain any delicate data such as customer records, banking details, or proprietary enterprise information.
- What data has been compromised?
IT staff should determine the types of data that have been affected, for example, names, addresses, Social Security numbers, credit card numbers, or confidential business information in addition to quantifying how much has been taken or exposed.
- What user accounts may have been compromised?
The IT staff should also identify which user accounts may have been affected by the data breach. This includes not only employees, but also customers, clients, partners, or vendors whose data may have been compromised.
Once the scope of the incident has been determined, it is important to notify internal stakeholders, such as upper management and relevant departments, about what has happened and the current status of the investigation. This will ensure that everyone is informed and can work together to address the issue and minimize the impact of the data breach.
Contain the security incident and notify external regulatory stakeholders
Containment is a crucial step in preventing the spread of the breach and minimizing the damage. Here are the next steps that should be taken to contain a security incident:
- Deactivate affected accounts: If any user accounts have been compromised, they should be deactivated immediately to prevent further unauthorized access. This includes disabling login credentials, revoking access to sensitive systems, and changing passwords.
- Isolate affected machines: If any systems or machines have been affected, they should be isolated from the network to prevent the issue from spreading. This may involve disconnecting them from the network, shutting them down, or placing them in a quarantine environment.
- Implement access controls: Access controls should be implemented to prevent unauthorized access to sensitive systems and data. This may involve setting up firewalls, implementing multi-factor authentication, or limiting access to certain systems to specific users or groups.
- Notify external stakeholders: In the event of a data breach, it may be necessary to notify external stakeholders, such as customers, clients, partners, regulators, and law enforcement. The notification should include information about what happened, what data has been compromised, and what steps are being taken to address the issue.
It is important to follow industry-specific regulations and guidelines when reporting a data breach. For example, in Canada, companies are required to notify the Office of the Privacy Commissioner and their industry-specific regulators in the event of a data breach. They must also provide evidence of the steps taken to mitigate the incident.
By taking prompt and effective containment measures, organizations can minimize the damage caused by a data breach and protect the sensitive information of their customers, employees, and partners.
Begin remediation and recovery
Remediation is the process of fixing the underlying problem that allowed the data breach to occur and restoring normalcy to the affected systems and data. This is a critical step in preventing future incidents and protecting the sensitive information of your customers, employees, and partners. Here are the key steps to take in the remediation process:
- Remove malware: If malware was involved in the data breach, it should be removed from all affected systems. This may involve using antivirus software, malware removal tools, or manually removing the malware.
- Restore machines with clean images: If any machines have been affected, they should be restored with clean images to remove any residual malware or other malicious code. This will ensure that the systems are secure and that any data that was lost or compromised has been restored.
- Reset user passwords: All user passwords should be reset in the aftermath of a data breach. This will prevent any unauthorized access to the affected systems and data.
- Bring isolated systems back onto the production network: Once the systems have been remediated, they can be brought back onto the production network. However, this should only be done when it is safe to do so and after all security controls have been put in place.
- Resolve underlying issues: The root cause of the data breach should be identified and resolved. This may involve patching security vulnerabilities, correcting misconfigurations, or addressing any other issues that allowed the breach to occur in the first place.
It is important to work with your IT team to make sure that each step of the remediation process will go smoothly. By taking a systematic and careful approach, organizations can make sure that their systems are secure, data is protected, and future breaches will be avoided entirely.
Notify affected customers
In the event of a data breach, it is an absolute necessity to immediately alert customers whose personal information may have been affected. Doing so not only safeguards your customers but also emphasizes your company’s dedication to security and privacy.
Here are some best practices for customer notification after a data breach:
- Choose a method of notification: You can choose from various methods of notification, including email, letter, or phone call. When making this decision, consider the type of information that was compromised, the number of affected individuals, and the resources available for notification.
- Be clear and concise: The notification should be clear and concise and should provide information about what happened, what steps the affected individuals can take to protect themselves, and how to contact you if they have any questions.
- Provide support: Offer support to affected individuals, including a dedicated phone line or email address that they can use to get more information and ask questions. This will help demonstrate your commitment to their privacy and security.
- Follow-up: After sending out the initial notification, it is important to follow up with affected individuals to ensure they received the information and to answer any questions they may have.
- Compliance with regulations: Be aware of the legal and regulatory requirements for customer notification in your jurisdiction.
By taking these steps, you can make sure that your customers know what to do and are safe if there is a data breach. This will also help make customers trust you more.
Hire an outside security consultant (optional)
If you are unsure about your company’s internal capabilities, then you need to hire an outside security consultant. Cyberattacks are becoming more and more common, and you can’t afford to take any chances when it comes to your company’s security.
An outside security consultant can help you assess your company’s current security situation and give you recommendations on how to resolve it. If you have suffered a data breach and need immediate help contact one of our consultants here.
How to Prevent a Cybersecurity Breach
Preventing a cybersecurity breach is a continuous process that involves a combination of technical and non-technical measures. Here are some steps you can take to minimize the risk of a cybersecurity breach:
- Implement Strong Passwords: Encourage employees to use strong, unique passwords and implement multi-factor authentication (MFA) to protect sensitive information.
- Keep Software Up to Date: Regularly update all software, including operating systems, applications, and security software, to protect against known vulnerabilities.
- Educate Employees: Provide regular training and awareness programs to educate employees on how to identify and avoid phishing attacks, social engineering tactics, and other types of cyber threats.
- Implement Access Controls: Implement access controls to restrict access to sensitive information only to those who need it to perform their job duties.
- Perform Regular Backups: Regularly back up all important data to an external location, so you can recover it in the event of a breach.
- Monitor Network Traffic: Use network monitoring tools to detect and respond to unusual activity, such as unauthorized access attempts, on your network.
- Conduct Vulnerability Scans: Regularly conduct vulnerability scans to identify and address security weaknesses in your systems and applications.
- Implement Incident Response Plan: Develop an incident response plan to outline the steps your organization will take in the event of a security breach.
- Partner with Cybersecurity Experts: Work with cybersecurity experts to assess your organization’s risk, implement security controls, and respond to security incidents.
A breach is never a pleasant experience, but it can be managed if you take the necessary steps to ensure your customers are informed and secure. Taking proactive measures to protect your customer data and educating yourself on the regulations that apply to your business will help you respond quickly in case of an incident.
Protect Your Business from Cybersecurity Data Breaches
Cybersecurity breaches can have disastrous consequences for businesses of all sizes. The best way to protect your business is to be prepared. However, if the worst case does happen this article provides a step-by-step guide on what you should do if you experience a breach.
At Oppos, we understand the importance of data security and privacy. We bring clarity and organization to our clients who are overwhelmed by the complexities of cybersecurity and regulatory compliance. We help them craft a detailed plan that pinpoints essential requirements, allowing us to guarantee their adherence to all frameworks – even in today’s ever-shifting landscape with its abundance of standards.
Our services include penetration testing, incident response planning, and vulnerability management, as well as SOC attestations and compliance, ISO certifications, and PCI assessments. If you are looking for an experienced security consultancy to help protect your business from cyber threats, contact us today.
Data Breach FAQs
A data breach is a security incident in which sensitive, confidential, or protected data is accessed and/or disclosed without authorization. Data breaches can involve any type of digital information such as financial records, customer information, trade secrets, intellectual property, and personal health information.
Data breaches can be the result of a variety of cyber-attacks including phishing, social engineering, malware, ransomware, and insider threats. It is important to take preventive measures such as deploying strong security software, training employees on best practices for avoiding ransomware and other attacks, and implementing access controls to restrict access to confidential information.
The most common cause of a data breach is human error, such as when employees accidentally or intentionally share sensitive information with unauthorized parties or fail to follow basic security protocols. Cyberattacks can also exploit vulnerable systems and infrastructure to gain access to confidential data.
