14 Nov 2011
The way Sony handled its data loss earlier this year demonstrates the damage that reticence can cause (Experts split over the benefits of compulsory data breach notification). Disclosure, if handled wisely, can help reassure the customer base and shareholders, protecting the company’s reputation.
Yes, it’s painful but inertia or the mistaken belief that doing nothing is the best policy will only cost the company in the long run.
By fostering an open approach to data security and disclosing a compromise quickly, other businesses in the same sector will be able to benefit from what could effectively become an early warning system.
It’s only by creating greater transparency in security that we can hope to stave off the growing threat of cyber attacks and data theft that businesses have to be defend against every day.
Phil Robinson
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