Factor For Saving Costs On Data Breaches For Organizations.

With the continuous rise of the breach incidents, the costs of data breaches for organizations has also escalated. The cost includes post data breach processes such as investigative & remedial actions, legal & consultation fee, setting up hotlines, notifications, incident response unit, and much more.

In today’s environment, each organization is prone to be mistreated by a data breach. Education, healthcare, financial and retail services are some example organization who is to be victimized. The average cost required in remedial procedures and cleaning up functions post data breach is high as $600,000. Data recovery is the main object that adds to the price when the breach happens on a larger scale. There are some factors that reduce the costs of a data breach. Here we listed top 3 factors:

1. 1.Incident Response Team.

2. 2.Usage of encryption.

3. 3.Extensive Employee Training.

1. 1.Incident Response Team:

Undoubtedly, the organization must be prepared and ready to efficiently respond to the security incident as soon as possible. The organizations should have an incident handling team to address any kind of incidents generating from the outside or inside of the organization. Though hacking endures being extensively reported, an important thing to understand is that most of the data breaches are more possibly happen due to the unwanted actions carried by the authorized users or insiders of the organization. Definitely, the absolute number of individuals, possibly affected by the single attacking incident is the most common cause for this concern. The incident handling team can able to create a quick response checklist for the organizations experienced with a cyber-oriented security incident. Ensure to integrate these steps into the security procedures and policies of the organization.

1. 2.Encryption:

The enterprises should utilize entire tools exists to guarantee that sensitive information is hack free at rest as well as in transmission. A strong encryption algorithm can support to secure the data from the hackers at any circumstance.

1. 3.Employee Training:

It is important to make the staff understand the vulnerabilities, risks, and threats to the organization with an appropriate Security Awareness Training. Especially, each employee should aware who to report on the event a data breach is suspected.

Akansha Konar is very passionate to write article on Information Security based concepts.