How to Avoid the Costly Headaches of a Data Breach

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Bridge the communication gap

As many large organizations have learned recently, your worst enemy can often be a former member of your team. Companies may find themselves at risk of an internal attack any time an employee with even limited amounts of access and responsibility leaves the company. A disgruntled employee can cause significant damage to a company by accessing and stealing sensitive data as a result of turnover and unrevoked access to sensitive accounts. By strengthening communications between IT and other important business units, such as HR, these situations can be avoided by ensuring a seamless transition of access any time an employee enters or leaves a company.

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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