What to Do If Your Business Is the Victim of a Cyberattack

Cyberattacks are on the rise... Is your business secured? 

Getting a panic call on a Monday morning with an unexpected Ransomware attack can devastate companies. Globally, small companies are experiencing a digital crisis as the latest Ransomware attack victims. Such attacks tend to leave organizations crippled; workstations are blocked, and employees cannot access their data. On top of that, attacked companies can face reputational damage if sensitive information is leaked on the Dark Web. The worst part is paying the Ransom to get your data back.  

Now, the questions that arise here are:  

1. What should the company do?  
2. How should the company prevent attacks in the future?  

Has this ever happened to you? If not, you're lucky. But what about the businesses that have been victims of a cyberattack? This blog will explain everything about what happens during a cyber-attack and what to do after a cyber-attack.  

As technology continues integrating into the workplace, businesses have increasingly become targets for cyberattacks. Whether your business is a small-to-medium (SMB) or an enterprise, knowing how the company should handle an attack is critical. Here are the key steps that you should take just after a cyberattack: 

• Investigate Immediately 
  

Don't let your company become a statistic. Data breaches can have severe, long-term damage - if not identified and addressed quickly. Shockingly, it takes an average of 197 days to become aware of a data breach, as per IBM's data breach report. Make sure to act fast in containing the breach as soon as you know it. Start by taking immediate steps like confirming that the data was compromised and understanding how information was accessed. Don't delay protecting yourself from further harm caused by hackers or malicious actors. 

• Analyze What Happened 
  

Uncovering the details of a cyber breach is essential to prevent similar ones. To get started, experts assess what happened and when through thorough investigations with specialized tools and techniques. Your Managed Email Security Services provider can help you identify suitable providers for this activity if you are finding them for larger businesses storing more sensitive data. ACE is one such alternative accessible!  

Ultimately, privy specialists must determine who had access to compromised servers at the time of the attack and how they could infiltrate into the system itself.  

By looking at security data logs, logins, flags on infiltration, or information from cyber protection systems, your MSP or internal security team can help with this. 

• Document Everything 
  

It's important to document all aspects of a cyberattack. This includes a few factors to record, such as:  

1. The time and type of attack  
2. Data stolen or compromised  
3. Any ransom demands made by attackers   
4. Employee contact information for those involved in the incident  

Keeping detailed records can help alleviate some concerns after an attack while providing insight into future security improvements within your organization.   

For optimal results, it's recommended that you hire experienced IT forensics professionals equipped with specialized tools and expertise to handle these types of investigations - so be sure to provide them with robust details ahead of time! 

• Understand The Impact 

As a business, it's critical to quickly identify the extent of any breach and ascertain how far-reaching its repercussions could be. Uncovering who has been affected is just one side of the coin; you also need to gauge if confidential information or money was taken from customers, employees, vendors, etc. 

• Connecting With the Right Authorities 

After experiencing several security breaches, President Biden signed an executive order in May 2021 to help improve the nation's cybersecurity. This may seem obvious, but here's the kicker - log management is key! Logging helps detect intrusions and mitigate other threats, so keep your logs on (half-joking) 24/7 and permanently store 'em for at least 30 days...the longer those records stick around, the better prepared we are when it comes to managing potential cyberattacks. 

Making sure your story is told properly is critical - but don't take the reins yet! Get some help from your legal counsel and cyber security response team first. Your future could depend on it, so make sure you're hitting all of their guidelines to get ahead before things spiral out of control. 

• Work With Your Cybersecurity Providers 

Working with cybersecurity providers can help businesses navigate the difficult task of effectively handling a potential attack. Cybercriminals have become increasingly sophisticated over the years, and new forms of malicious software, such as Ransomware, can put a business's data and assets at risk. To guard against this threat, organizations should understand what Ransomware is and how it works. Professional providers will be able to explain how they can help protect an organization through solutions programs that monitor network activity, filter website traffic, and regularly deploy security patches. These solutions prevent, detect, contain, and respond to any threats Ransomware attacks pose. Taking these steps now can save a company much trouble in the long run when trying to protect systems from this form of attack. 

• Get Expert Legal Advice 

If your company falls victim to a cyberattack, you may ask yourself how to handle it. This is why it's important to get expert legal advice. Experienced lawyers can help you assess the situation and advise how best to protect and defend your business from further attack. They can also assist in evaluating how prepared your company is and how to protect against future cyberattacks. Make sure you have peace of mind and can confidently move forward, knowing that the right legal team has what it takes to get the job done. 

• Create A Communication Plan 

Creating a communication plan for how your company will handle the aftermath of a cyberattack is essential to mitigating risk and protecting your reputation as a victim. Preparing in advance how you'll respond if and when a breach occurs is key to addressing any issues that could arise post-cyber-attack quickly. This communication plan should include how to communicate with impacted customers, how the internal team should share information, how and when the press or media will be informed, how to stay engaged during the recovery process, and how to communicate changes or updates regarding procedures or involvements. With thoughtful planning, you can ensure your company is best prepared if it ever falls victim to a cyberattack. 

Conclusion 

Cyberattacks are an unfortunate reality for businesses of all sizes. Still, by taking the steps outlined in this post, you can minimize the damage and effectively counter any threats that arise. Investigate immediately, document your findings, understand the full extent of the impact, and get help from cybersecurity experts and legal teams as soon as possible. Being prepared with a communication plan will ensure that customer trust and privacy are maintained while quickly rectifying any issues.    

These dark moments may feel overwhelming to grapple with. Still, by taking proactive steps and connecting with the right people, business owners can quickly return to regular work, secure in their ability to protect their customers and their data. The best defense is prevention, so stay informed of cyber security trends and take steps now to increase your business's safety before a breach occurs. What is the first action you'll take after a cyber-attack? Comment here and share your thoughts with us.