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Useful Tips to Reduce Risk After a Security Breach

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You have to understand that no company is entirely safe from the data breaches. Even the topmost websites have experienced data breaches in the past. However, no business is entirely helpless, there are few steps that will help you to minimize the risks at some level.

Before proceeding ahead, you have to determine what was breached in the past. It could be anything like social security numbers, email addresses, names, information about salaries and so on. In order to strengthen the email security, you could update all the login credentials time to time.

Changing the passwords

If you have recently experienced a security breach, change all the passwords immediately even if the account appears safe. While creating a new password, make sure that it has alphanumeric and special characters. Also, you have to keep in mind that you never reuse the same password again. In case the private information like bank and credit card details have been leaked, make sure that you contact the financial institutions immediately. You have to notify them of possible fraud risk.

When more data is moved to the cloud, we hear incidents like misconfigured cloud storage configurations. In the past several years cloud system of all the top companies has been compromised due to one reason or the other. This automatically leads to breach of millions of customer records. This can easily be prevented if the cloud users observe cloud shared responsibility model.

The cloud service agreements clearly state that the cloud service providers are responsible for any sort of damage to their cloud infrastructure. On the other hand, customers are responsible for cloud security issues like updates, patches, management tasks, configuration and managing the data.

Importance of third-party risk management software

Third parties have become a greater risk to organization’s sensitive data. According to the studies, approximately 59% of the companies have experienced data breach in past few years. As the vendor networks are increasing at a growing pace, third party risk management has become a challenge. More than 60% of the companies have more than 1000 third parties. Among these, only 16% have agreed that they have taken initiatives to mitigate the risks in their vendor system.

It is better that a company adopts third party risk management software rather than robust and manual systems. Such advanced systems will incorporate technologies, processes and the procedures, monitoring, mitigating vendor risks and so on.

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