How to Avoid the Costly Headaches of a Data Breach

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Give IT security a seat at the table

IT security needs to be included at a strategic level in the steering of any organization, but often is an overlooked priority delegated to the IT department instead. As the recent Target breach proves, C-level executives are certainly not immune to the fallout from such an event and smart companies are quickly adapting by changing their internal reporting structure. Now the CISO may report directly to the CEO or CFO rather than the CIO, giving IT security a seat at the senior management table with direct access to executive decision makers and budget. This is especially important to ensure appropriate IT security staffing, training, technology and best practices are implemented.

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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