Companies Lose More Than Data in a Breach;
They Lose Their Good Name
The list of mega cyber breaches keeps growing. And the army of hackers is expanding – and becoming increasingly sophisticated. Company IT departments are on hyper-alert, but many companies don’t take time to consider the full spectrum of necessary preparations, including how to integrate all the corporate functions and their considerations into a cohesive public response. After a breach, consumers, regulators, investors, employees and vendors all judge companies based on their responses, so it’s crucial to be well coordinated and understand the challenges well in advance.
As these incidents become more frequent, government watchdogs are stepping up scrutiny of quality and timeliness of corporate responses, and in the US, the Federal Trade Commission is presumably preparing regulations regarding corporate preparedness. The reality is clear: Expectations for companies to more actively manage all aspects of potential threats and response are rising daily.
Read more about this topic on TRUE, FleishmanHillard’s online magazine.