Pearl of Wisdom: Why Sony’s Breach Matters? The Why doesnt matter as much as the How was it done? Leading to ask the question, how do we protect our customer databases; would a data breach pose a significant threat to our investments? Data security matters in todays environment, but is it a wasteful expense if it doesnt protect our #business? To truly be safe, should we cylo our systems; even if that would directly effect our #productivity and #profit; so what do we do? Realistically, what can stop a force bent on gaining access to our systems; how do we handle these #risks? Even if our systems are disconnected, insiders will always be considered security threats (its nothing personal). One approach, dont use computers or mobile devices and deal in cash only transactions (really trust the person handling your cash); now you can add worrying about the IRS, theft, cumbersome transactions, additional physical security... you can see where this is going... Data loss is inevitable, think about it in terms of what damage you can mitigate. Based on the type and volume of the losses sustained. One option in your arsenal to always have in your contingency plan is Insurance. Insurance can provide you with a buffer against the direct losses (or unintended liabilities) a data breach can bring with it. NOTE: Commercial General Liability Insurance policies, which you should currently have in place, WILL NOT cover you or your company unless you have a specific endorsement for Cyber Liability or Data Breach (to a specified value). If you dont believe me, ask your broker; or send me your policy and Ill tell you what you really have coverage for. ACD #startup #NYEBN #entrepreneur #databreach
Posted on: Wed, 24 Dec 2014 20:32:01 +0000
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