Using Enterprise Rights Management (ERM) to Deal with Data Breaches.
Given that data breaches are taking place every day, users are no longer shocked by the occurrences or their magnitude. Unfortunately, this is not a good sign, since protecting documents and data has never been more relevant. Organizations who experience a data breach must announce to their consumers and the public that an infringement has taken place and also be obligated to pay penalties in accordance with GDPR regulations.
According to reports from Teramind, over 230,000 data records are misplaced or stolen every hour across the world. From personal information, financial information, and other credentials exposed during a data breach, a security incident of such a nature can be disheartening for impacted companies and users. Following a data infringement, losses may result from hackers impersonating people from within the targeted network and gaining access to other critical security systems within the company.
Unfortunately, regardless of policies, strategies, defenses, or protocols, a skilled attacker can compromise your company’s data, and its effects can be detrimental. Government reports cite that over 60% of small companies go out of business in a matter of months after a data breach. And while this is critical to stay protected by employing a robust data and document security solution such as ERM (Enterprise Rights Management), if a company has experienced a breach, they can recover from it and return to business with a reliable recovery plan in place. Here is how businesses can deal with a data breach.
Using Enterprise Rights Management (ERM) to Deal with Data Breaches
Stop the breach in its tracks
After a company has recognized a data breach, it is essential to restrain it as soon as possible. Here, time is of the essence. There are numerous ways in which a company can contain an infringement, depending on the nature of the attack and the applications or systems affected. Organizations can begin by isolating the compromised system to prevent the breach from spreading to the entire company. Discontinuing breached user accounts can be beneficial as well as cutting off a specific department that was hit.
Instituting a sophisticated security infrastructure that has multiple protection layers can help IT teams locate and isolate the target swiftly and effectively. Once the infringement has been restrained, it is essential to obliterate the threat to avoid any damages thereon. Once again, the process to eliminate the attack can depend on the kind of breach; from reformatting targeted assets and rebuilding them to blacklisting IP addresses from where the attack began. Enterprise Rights Management.
Evaluating the damage
Investigating and assessing the loss caused to the company is the next step once you have contained and eliminated the breach. Understanding how the infringement took place is critical in preventing attackers from employing the same tactics and succeeding in future attacks. Besides, it is also vital to analyze impacted systems or networks to ensure that no residue malware is left behind for future discretionary attacks. While evaluating the damage, here is some information that you would want to garner:
- What kind of data was affected?
- Did the data hold sensitive or high-risk content?
- What was the attack vector?
- How did the attack take place and in what format?
- Can the data be restored to the company’s backup?
- Did the attack take place based on social engineering tactics are through user accounts?
Inform the affected parties
While analyzing the data infringement, companies must identify all parties impacted by the breach and those that are in danger of being affected. Post the analysis; the next step is to inform third-party organizations, legal authorities, and any individuals who may come under the ambit of the breach. Compliance regulations govern the specific timeframe in which an infringement must be reported, which is why it is essential to do it as soon as possible. Enterprise Rights Management
Security audit to assess security systems
After taking the initial steps in recovering from a data infringement, it is vital to evaluate your company’s existing security systems with a security audit. This can help to prevent future incidents and prepare future recovery plans. Many companies believe that their IT security is adequate, but it is a claim that cannot be proven without an actual data security audit. It is crucial to perform regular security audits, regardless of whether a data breach incident has taken place. However, there are differences between a routine security audit and post data breach audit. After a data breach, a security audit analyzes the situation and all the systems to propose the implementation of new policies, protocols, or solutions that can prevent future attacks.
Updating your future security plan
Post a data breach, you may have taken all the above necessary steps to recover. However, the relevance of preparing your company for the next attack cannot be stressed enough. A company that has been attacked may suffer the same fate again in the future. To avoid such a scenario, a new recovery plan must include a robust document security solution such as Enterprise Rights Management (ERM), new privacy laws, information and training to all staff, enforcing protocols with third-party contractors, and more. Enterprise Rights Management can be used to ensure documents are encrypted at rest and are tightly controlled in their use when accessed by authorized users.