The longer a data breach takes to detect and contain, the more expensive it becomes. By having an incident response team, you can greatly reduce the impact and costs associated with a data breach.
According to the 2016 Cost of Data Breach Study conducted recently by Ponemon, incident response planning played a large part in reducing the scope and costs associated with a security incident.
The study also found that on average a breach detected after over 100 days is $1 million more costly.
70% of US executives still lack an incident response plan | The 2016 Cost of Data Breach Study
The Benefits of an Incident Response Team
Coleman W. Watson, managing partner of Watson LLP, is currently writing a series on Inside Counsel on how to handle a data breach. He stresses the importance of having an Incident Response Team as a preemptive measure against data breaches. An Incident Response Team provides:
- Response and containment procedures
- Handling of law enforcement requests
- Dealing with insurance companies
“The key to surviving any crisis is preparation—that is, having an established protocol to steadfastly follow when, not if, chaos emerges,” says Watson.
The series also details how to create an incident response team, how to prepare the team, and what protocols to follow for the top three most litigated breach scenarios. Preparing for a data breach is now being mandated in many state regulations and global regulations such as the EU GDPR.
The Top 3 Most Litigated Breach Scenarios
The top 3 most litigated breach scenarios:
- Stolen employee endpoint devices
- Accidental publication of personal information
In each scenario, the ability to quickly respond, contain, and report on these steps is key to preventing a security incident. In the case of a data breach, responding and containing the breach quickly can save your company millions. In the event of litigation, the series re-iterates the importance of collecting and preserving information and understanding the full scope of the breach.
By using Absolute DDS, you can instantly determine any potential (or existing) threats to prevent a data breach from occurring and to ensure you comply with corporate and government regulations.
Absolute DDS also provides you with automated alerts so if a device or user behavior changes, you will be automatically notified. This way you can instantly monitor your encryption and SCCM status, set risk triggers, and monitor sensitive data, no matter where it is.
With a persistent connection to each device, you can assess risk and apply remote security measures so you can protect each endpoint and the sensitive data it contains — and prove it, with a full audit report.