How to Avoid the Costly Headaches of a Data Breach

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Practice better password standards

With recent vulnerabilities like the OpenSSL Heartbleed bug, organizations have learned that relying on simple, easy-to-remember passwords that are not regularly rotated leaves them at risk for threats. By enforcing strong password practices internally for both end users and non-human accounts, organizations can ensure the most basic levels of protection from external threats are in place. Long, complex passwords and scheduled rotations of passwords help shield against hackers and social engineering tactics that rely on low levels of effort to execute. Oftentimes, simple best practices are enough to encourage cyber criminals to move on to their next target.

In the wake of eBay's recent data breach, many consumers and security professionals have been extremely vocal in their protest of the company's response to the situation; some are calling it one of the worst corporate crisis responses they've ever seen. eBay's stock price in the days after the breach took a major hit, dipping to the lowest since December 2013. When considering the costs of a data breach, damage to company systems, loss of intellectual property, remediation and forensic costs are usually what come to mind. Some organizations also factor in the cost associated with reputation damage, which may harm revenue, as well as industry fines or possible prosecution. Thycotic, a provider of privileged account management solutions for global organizations, has compiled the following list of best practices for mitigating data breaches and avoiding the costly headaches associated with them.

Thycotic Software deploys smart, reliable, IT security solutions that empower companies to control and monitor privileged account credentials and identity access for administrators and end users. An Inc. 5000 company, Thycotic is recognized as the fastest growing privileged management vendor in IT security and one of the top 30 fastest growing companies headquartered in Washington, D.C.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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