Is Your Business Liable After Experiencing a Data Breach?

Personal information is everywhere, and without the right security measures, your business can be susceptible to data breaches. Employee's and customer's stored phone numbers, credit cards, and personal information are all susceptible and can fall into the hands of hackers.

The biggest question is: Can your business be held liable?

Let’s talk about your liability and tips to reduce the risk of a breach.

Is Your Company Liable for Data Breaches?

Once an individual has suffered any damage from a breach through identity theft, loss of income, or exposure to financial information, a lawsuit can be validated.

The business can be held liable when a data breach occurs, particularly if there are discrepancies around how the data was protected and stored.

Alternative circumstances, including employees who have taken a client's confidential files, sent in sensitive information through e-mail, or data not destroyed correctly, can also be included, leaving the business accountable for damages.

What Are the Options for Your Business After a Data Breach?

If a breach has occurred, every organization will have different guidelines to follow, but the typical steps involve the following:

●        Finding out what information has been breached

●        Gathering evidence and incorporating mitigation strategies

●        Communicating to affected individuals about the extent and nature of the breach and what has been exposed

If the breach involves more than 250 individuals, the report must be done by post or e-mail within 60 days of the incident.

The breach notice should be in writing, sent without delay, and also state that the individual can request a copy of the report in writing or by e-mail.

Keeping Your Business Protected

Realizing your company has experienced a breach is a nightmare, and if you do choose to do nothing, the outcome could be far worse.

Here are some of our top recommendations:

●        Take action immediately

●        Research data breaches and cyber security

●        Implement new strategies to reduce the risks of a breach, including security enhancement

●        Address any liabilities with customers and suppliers to reduce the risk

Let Us Help Protect Your Business Against a Data Breach

While each scenario will vary, at the end of the day, your company will be liable for damages from the security breach. Enhancing your data storage will reduce the risk of attacks.

Lighthouse Technology Solutions is Minnesota's premier cybersecurity provider. Our team also specializes in telecom consulting to ensure your current setup is streamlined to meet your needs.

If you need to enhance your data security, we always offer a free quote, so message us online or call us at 612-345-9177 today.