Creating a Data Loss Incident Plan - Slide 7

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Data Loss Prevention Framework

A comprehensive annual audit should be conducted to understand what data is collected. The company may revalidate the business need for its collection and retention. Data retention and destruction policies should dictate how long information needs to be retained and how to destruct data once past its retention period. As requirements change, retention periods and data destruction processes should be reviewed annually or as needed to comply with regulatory requirements.

The Online Trust Alliance (OTA) advocates that all businesses create an incident response plan and be prepared for the likelihood that they will experience a breach or data loss in the future. The fact is breaches happen and often at the worst of times. Rather than be lulled into the belief it will not happen to your business, a well-designed plan is emerging as an essential part of regulatory compliance, demonstrating that a firm or organization is willing to take reasonable steps to protect data from abuse. Doing so is good business. Developing a plan can help to minimize risk to consumers, business partners and stockholders, while increasing brand protection and the long-term viability of a business.

This slideshow highlights key questions and recommendations for businesses to consider while building a data loss incident plan.

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