While the vast majority of Moving and Storage organisations have implemented a business continuity plan (BCP), many don’t possess a management plan specific to cyber-risks, also known as a cyber-continuity and incident response plan.
Between the abundance of high-profile data breaches that have occurred in the past couple years, such as Facebook, British Airways or TalkTalk, and strict data protection requirements by the General Data Protection Regulation (GDPR), failing to account for cyber-exposures in your organisation’s BCP is a risk you simply cannot afford to take.
Cyber crime costs more than just data
Simply put, every organisation that stores or handles data is at risk of a cyber-attack. As technology advances, companies are collecting, storing and transferring more personal information about their customers and employees than ever before. This not only puts a target on an organisation’s back, but it also means that just one breach can affect thousands or even millions of individuals. And, unfortunately for businesses, cyber-incidents cost more than just data.
When a data breach or other cyber-event occurs, the damages can be significant, often resulting in legal actions, fines and serious financial losses. What’s more, cyber-exposures impact businesses of all kinds, regardless of their size or area of focus. Recent data from the Department for Digital, Culture, Media & Sport found that nearly 40 per cent of UK businesses and 20 per cent of charities suffered a data breach in the past year. And that’s just what we know about. It can often take days or even months for a company to notice its data has been compromised. And, when it comes to containing the damage caused by a data breach, having a response plan in place is crucial.
Why you need a Cyber Continuity and Incident Response Plan
While cyber-security programmes help secure an organisation’s digital assets, cyber-continuity and incident response plans provide comprehensive, proactive guidance for organisations to prevent cyber-threats, as well as reactive steps for companies to follow when a cyber-event occurs. Utilising a continuity and response plan allows organisations to ensure business success throughout any cyber-scenario, notify impacted customers and partners quickly and efficiently, and limit financial and reputational damages.
Failing to have a clear plan in place that ensures immediate action in the face of a breach could cost an organisation millions of pounds and shatter its reputation.
