Peter Galdies, Managing Director, DQM GRC discusses how data breaches can be tackled more effectively
It’s 2019 and we’re getting very used to another data breach disaster hitting the headlines on a daily basis.
Data breaches are getting bigger, the amount of compromised data is on the rise and the risk extends beyond malicious hackers and includes the growing insider threat from negligent or reckless employees.
Another challenge organisations face is not just preventing a data breach, but discovering it’s occurred in the first place. IBM Security’s 2019 “Cost of a Data Breach” found the average time to identify a breach was 206 days, nearly 5% higher than its 2018 findings.
Yet those organisations that could identify and contain a breach in less than 200 days found them 37% less expensive than those which took longer, saving an organisation $1.22 million on average.
To help organisations across the globe combat the rising complexity and costs of identifying and containing a data breach, DQM GRC has launched BreachTrak™ – a new online platform that enables you to keep an eye on your data even when it leaves the building and moves beyond your direct control.
BreachTrak™ enables an organisation to quickly identify when data has been misused so it can act immediately to contain the breach, minimising the damages and costs associated with regulatory fines and tarnished brand reputations.
The online platform enables organisations to monitor data usage from both employees and third-party suppliers, and can track activities across e-mail, telephone, post and can additionally use Darkbeam technology to monitor the surface and dark web.
To use the platform, organisations just need to add their unique BreachTrak™ records into the company databases they want to keep an eye on. When the BreachTrak™ records are contacted or found on the web, updates will be logged into the company’s secure online portal and email alerts can be set up to instantly flag any suspicious or unusual activities.
This means an organisation can quickly identify how the data has been misused and take immediate remedial action.
Peter Galdies, Managing Director of DQM GRC, comments:
“New research from Deep Secure has shown that almost half of office-based employees are willing to sell corporate information to outsiders, and as a little as £1,000 would be enough to tempt 25% into information theft.
It’s important to remember that the growing value of data, combined with the rising difficulty in an organisation’s ability to collect and process it (due to more demanding privacy regulations and a growing individual awareness), means the temptation to steal and sell data will continue to increase.
We’re excited to launch BreachTrak™, a new online solution that will help organisations combat this advancing threat. The platform enables you to add uniquely identifiable contacts amongst the real records within a data set, which are then continually monitored for all usage. This allows an organisation to spot any unexpected or suspicious activities, so they can swiftly take action and investigate further.
Ensuring staff and third-party suppliers are aware that this safeguard is in place can also minimise the likelihood of data theft – if they know they’re more likely to get caught, they will be less likely to take the risk.”