Data breach is a frequent threat that the business world around the globe has to face every other day. There are always one or two news articles stating the penetration of cyber criminals, their mode of operation, and how it happened. As per Astarios, your cyber security consulting company, there can be various reasons for this efficient execution of the intentions of cyber thieves. Whether it’s your staff’s negligence, a weak security system, or non-compliance with the industry standard, in the end, your business has to bear the consequences.
There are heavy expenses that come with the breach. However, prevention measures too will require a certain amount of spending, but they save you from several hassles and secure your clients as well as your business. The question is, are you ready to prevent or remedy the cyber breach outcomes?
Why does a Cyber Security Consulting Company Stress on Data Breach Prevention?
Many businesses, especially those in the tech sector, tend to avoid spending on data breaches. However, in the end, they will have to pay a handsome price as the attackers get access to their system. There are various reasons why a cyber security consulting company stresses data breaches. Let’s delve into knowing about them by reading further.
1. The Losses You Have to Pay After a Data Breach
The data breach can be unfortunate for any business. A business contains its customers’ data it gets with consent and on the pretext that it will provide the necessary security. And these cyber security attackers steal that data within seconds, causing great reputational damage to that company. However, apart from this, there are various other expenses that the businesses have to bear. They include:
a) Forensic Analysis
Once the cyberattack is successful, the ideal step to take next is to call for a forensic investigator to get to the root of how the breach happened. These experts assess the affected system through software performance testing and identify the compromised data. After uncovering the upper layers of the breach, they delve deep into the technical aspects. They examine the logs, network traffic, and compromised systems in depth. This way, they get an understanding of the attacker’s pattern, which helps in preventing these attacks in the future.
All of this requires a great deal of time, expertise, and massive spending. And in any case, if your business’s critical infrastructure is threatened, their fees might be higher than expected.
b) Paying for Legal Liabilities
There is a lot of legal chaos whenever a data breach happens to a business. Get ready to employ legal experts to navigate through the legalities, such as notifying the affected parties, ensuring compliance with the government data security laws, and handling potential lawsuits, as well as contract violations. Regulators’ negotiations are also their scope of work. Legal fees are unpredictable and get escalated as per the breach’s scope. Moreover, there might be litigation fees that you will have to pay for the customer’s or client’s data that has been compromised.
If handling the expenses for these legalities is not enough, you will also have to hire a project management consulting services expert. The expert will assist you in identifying the scope of the breach and data flow within the organization and outline the incident response plan. Overall, it is a total financial fuss!
c) Ransome Costs are Not Uncommon
Ransomware attacks are very smartly designed with a technical strategy to use encryption as a tool. Here, the attacker gets access to the company’s data, encrypts it, and asks for payment in lieu of the description key. Ideally, paying for the ransom should not be the right discourse, as Astarios, your expert cyber security consulting company. However, there are many businesses with zero data backup, and they see it as a quick way to operate a restoration.
If you seek this path to restore the data, you might be up to paying millions of dollars as ransom without a guarantee to get the data in return. Potentially, you might be welcoming more attacks in the future by paying for the ransom. Other than this, the legalities and ethical concerns can be levied upon you.
d) Non-Compliance Fees
As stated before, the legal professionals ensure your compliance with the government regulations. They assess compliance and help you understand where you lag. You get to know about where you should reinstate the docility aspect with the government regulations. Also, they navigate the complexities to help you understand where your business is levied with the official notice to pay the non-compliance fees. The penalty fee may vary as per the scope of the same.
Apart from paying for the penalty, your business might be held liable for spending on long-term remedial fees due to damaging the brand and customer trust. This will lead to increased overall costs and resource allocation managed by project management consulting services experts like us at Astarios.
2. What if you have Preventive Measures in Place?
Now, imagine you don’t have to navigate through the legalities mentioned above, ransome costs, etc.! This can only happen if you have the appropriate preventive measures in place. However, you do have to spend a few dollars here, too! Whether prevention expenses or remedial fees, what to choose? You can access only by reading about the cost of preventive measures. So, continue reading to know.
a.) Audits and Consulting Services
Now, here is the major role of your cyber security consulting company, Astarios. Our consulting experts provide you with guidance on fortifying your IT environment. Their role encompasses systems, policies, and practices assessment. The assessment will consist of the major vulnerabilities and risks to which your business IT system infrastructure is exposed. These audits help you to inspect your business’s compliance with the industry standards and best practices on data security. So, before the attacker, you know the security gaps in your organization, and that’s actually safer, right?
The next step is that those consultants will provide you with well-customized strategies to fill in the security gaps and strengthen your defenses. You might pay for their service, but in the long term, you save a major cost on a potential security breach remedial.
b.) Reinforced Security Tools
Security tools form a base for any organization. They are the ones who deal with any foreign intrusion, prevent them, and notify you about the same. Using these tools, you can block any unauthorized access. But, the real question is do you have the appropriate tools in place to tackle the potential attacker in the future? Even if you have them all, are they updated and capable enough? Here also, the help of security consultant experts comes to help, along with the project management consulting services professionals from Astarios.
While the project management professionals map all the security tools and inform the security experts about them, they will do the software performance testing of each tool. Those tools may include firewalls, two-factor authorization, etc. Those tools and the help of the security as well as project management experts’ services might be costly, but less than the foreign intrusion and data breach.
c.) Training your Hires
Human errors are common but can be a leading cause of data breaches in your organization. The primary potential cause for this is inefficient staff training and negligible awareness programs. Our cybersecurity experts cannot stress less the importance of staff training when it comes to preventing data breaches due to cyber attacks. One wrong move and it’s all gone! It can be a click on malicious links or accessing a corrupted website. Literally, anything! Your employees are prone to these cyber attacks online, and they might be an inside threat to your business.
To prevent them from becoming one, you must host an awareness program guided by the experts of our cyber security consulting company. They will teach the employees about the various means of cyber risks and the prevention measures. Your hires will know about the security policies. This way, you minimize the potential damage that may occur to your business due to the carelessness of the workers in your organization. It is less costly and sustainable for your business.
Hire Expert Cybersecurity Consultants to Prevent Cyber Breaches!
So, have you decided? Will you want to ignore cyber security now or pay for the prevention measures in advance? As per the assessment on global platforms, the prevention measures cost less than actually remedifying the data breach issue. However, you must opt for the services of the best cyber security consulting company to reap the benefits. We, as Astarios, can be the perfect choice for you. As you put your trust in us, we ensure to protect you against the most complex and dangerous cyber attacks.
How to connect with us? Tap on the get in touch button on our website and follow the steps as stated. One of our experts will reach out to you to discuss the possibilities!
