The average cost of a data breach is $3.86 million, according to the 2018 Cost of a Data Breach Study: Global Overview published by the Ponemon Institute. And in 2017, 145,927,550 records were compromised due to employee negligence or error, according to the 2017 Annual Data Breach Year-End Review from the Identity Theft Resource Center.
When it comes to the fallout from a data breach, the stakes are high. Knowing what to do as soon as a breach occurs can help you prevent bigger losses. Experian recently released its Data Breach Response Guide, which covers how to create a data breach response plan and who should be part of a response team. Your plan should be created and tested well before a breach occurs.
Some of the report’s suggestions include having procedures for communicating with regulatory entities, auditing and testing your plan, and a checklist of what to do in the first 24 hours after a breach. Download the 28-page free guide.