A security incident is any event that compromises the security of your data or systems. It can be anything from a malware infection to a data breach, and it can have serious business impacts, such as data loss, reputational damage, and even legal penalties.
If your business experiences a security incident, it's critical to take the proper steps to mitigate the damage and protect your data. In this article, we will walk you through the process of minimizing the impact of a security incident on your organization.
1. Identify and assess the threat
The first step in mitigating a security incident is identifying its source. In some cases, it’s easy to deduce what happened. For example, if you find new programs on your computer that you don’t remember installing, then it's likely that you've been infected by malware. Sometimes, however, the cause of the incident may not be immediately clear. If you're not sure what has happened, it's wise to err on the side of caution and treat the incident as a serious breach.
Assessing your systems will help you to get a good grasp of the extent and severity of the damage. If possible, determine the part of your cybersecurity strategy which failed to stop the threat, since this information can be helpful in preventing future incidents.
2. Contain the incident
After identifying the threat, you must take steps to prevent further damage. This may entail shutting down compromised systems or isolating affected data to limit the spread of the threat.
Keep in mind that while it’s important to be efficient in containing the incident, it’s also necessary to be careful so as not to make things worse. For example, if you shut down a system without first backing up its data, you could end up losing important information.
3. Eradicate the root of the problem
Getting rid of the security threat may involve removing malware from your systems or patching security vulnerabilities. In some instances, it’s possible to completely resolve the incident at this stage. But sometimes, the damage can be irreparable. If data has been stolen in a breach, for instance, that data is out there forever. In these cases, you'll need to focus on mitigating the impact of the incident.
4. Recover data and systems
Depending on the gravity of the incident, you may need to partially restore from backups or rebuild systems from scratch. Therefore, it pays to always have complete and updated copies of your data. This is especially crucial in the event of a ransomware attack, in which you lose complete access to your data and have to rely on your backups to resume operations.
5. Notify affected and relevant parties
Be transparent with your clients, employees, and other stakeholders about what happened and what steps you're taking to mitigate the damage. In some cases, you may also need to notify law enforcement or regulatory authorities.
Per Florida’s Information Protection Act, for instance, any security breach affecting 500 or more individuals should be reported to the Florida Department of Legal Affairs. If over 1,000 individuals have been affected, then all consumer reporting agencies should be notified.
6. Review your response and bolster your defenses
No matter the type of threat you face, it's important to learn from it and take steps to prevent future incidents. Take a step back and review your response, as this will help you identify any areas where your defense could be improved.
If you experienced a phishing attack, for example, then you may need to fortify your email security or conduct employee training. You may also want to consider partnering with an external consultant like Cutting Edge Network Technologies which specializes in business IT and can help you review your response and implement improvements.
By following the steps outlined in this article, you can minimize the impacts of a security incident on your business. If you have questions about threat mitigation or need a hand with your incident response strategy, our IT specialists at Cutting Edge are ready to help. Drop us a line today.