If you’ve never experienced a cyberattack, you might not think it’s such a big deal.
Especially if you work in management, you’re so busy focusing on the so-called squeaky wheels of every day; does it really matter if you keep up with the intricacies of modern cybersecurity compliance protocol? YES!
Increased digitization across the globe plus ever-advancing cyber threats equals a constantly evolving market, and legislation that scrambles to keep up.
Why Reporting Matters in a Data Breach
Have you ever experienced a cyberattack, either aimed at you or leveled at your organization? If so, then you might already know how important it is to report the breach – and we don’t just mean to your direct managers or the police!
When a data breach happens, you are often beholden to laws detailing what, how fast and to whom you must disclose. For example, financial institutions have to notify the Federal Trade Commission within thirty days.
You typically have to disclose the breach to anyone affected too, depending on what information was stolen. Where do you work? Do you know the laws set upon your industry and role?
So not only does cyber-compliance affect your ability to protect yourself and your customers from a data breach, but that hack will affect customers’ trust in your ability to keep their personal and financial information safe.
There are also legal concerns to think about. Lawsuits can cost millions between legal fees, penalties, profit losses and disruptions to the daily workflow.
Consider that the average company spends $10K per employee on cyber-compliance, and you see why maintaining compliance saves millions – about half of what you’d spend if you let vulnerabilities lay rampantly unpatched.
Maintaining compliance isn’t just smart; it’s necessary. To foster good relationships with your customers and shareholders, and avoid fines and breaches, companies must maintain a compliant cybersecurity structure.
These regulations change over time but do so to keep up with the latest tricks up cybercriminals’ sleeves.
Our IT services include compliance as part of our all-in-one package to reduce excess labor on your end. We’ll stay up to date on changing regulations so you stay cyber-compliant!
Reporting is one of many important regulations that make you more cyber-secure. Think about it: If your bank accounts, or health records, or mailing information got leaked, wouldn’t you want to know?
It’s not just about preferences, though. Data privacy is a right in many countries across the globe. More and more, people and legislation are all pushing for better data privacy protections.
How can we keep our accounts and data private if we don’t know when a breach has occurred? If you don’t know YOUR reporting requirements, now is the time to find out! Give us a call.