How Can a Company Recover from a Data Breach?
Data breaches have become not only more numerous but larger in size and damage as well with the potential to destroy a company’s reputation in seconds and cost millions if not billions of dollars. The most recent data breach of this size was Equifax, which potentially affected almost 150 million Americans and their credit card information. Another recent example was Home Depot a few years ago who was attacked via a weakness in the point of sales system. Both breaches had technology and sensitive information in common– and many data breaches in the last few years have been traced back to human error with technology. Many have pointed out that the system Equifax used shouldn’t have even been able to access so much data at once. Was the error from a lack of adequate employee training or technology? So how can Equifax restructure its systems since its data breach was through a “failure of technology”, and how can other companies learn from their mistake?