As technology becomes increasingly important for successful organisations, and the General Data Protection Regulation (GDPR) promises much stricter penalties for inadequate data security, the value of understanding how you would react in the event of a breach will continue to grow.
No matter your trust’s size or location, the nature of modern business exposes you to cyber threats. A cyber breach not only threatens your finances and disrupts your operations, it also tarnishes your reputation.
If you fall victim to a data breach, you could face any, or all, of the following:
A cyber attack can cause IT disruption and even complete system failure. There will undoubtedly be a loss of income associated with this, with inaction only exacerbating the situation.
There will be costs associated with the breach, such as notifying customers and managing complaints. This is before considering potential privacy infringement claims and associated legal costs.
Often cyber attacks involve malicious software and ransomware that attempt to seize control of, and withhold access to, your operational or personal data until a fee is paid. How a trust is prepared for this eventuality will affect how this situation will play out.
Does your trust have the expertise to conduct the forensic investigation to the level required? You’ll not only need to ensure costs and interruption can be mitigated, but also to identify how security can be improved in the future to prevent a reoccurrence.