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Why should your company have an Incident Response plan?

Incident response plan

Incident Response Plan for Companies

According to a 2018 IBM report, 77% of organizations do not have an effective incident response plan that they put in place when a security breach occurs. Incident response plans, which every company needs, allow you to keep your company’s data security, reputation and budget under control.

What is Incident Response (IR)?

Incident response (IR) encompasses a set of procedures, tools, and resources that companies use to recognize, respond to, and recover data after cybersecurity attacks.

Let’s say your company detects a data breach. If you go directly to damage control, this can cause disruption and even chaos in the long run. An incident response plan (IRP) prevents chaos.

Incident response plans are not vague and tentative ideas of what your company will do in the event of an attack. Rather, it contains step-by-step instructions on how the company should continue to work and operate, and who to contact. Thus, your company can take strategic steps against a data breach.

Types of Security Incidents You May Encounter

Companies often face the following 4 common security incidents. Knowing about these possibilities guides you in creating an incident response plan.

DDos Attack

A DDoS attack is when a hacker bombards incoming traffic to any application with high-volume requests. This attack can cause unseen results and slow speed in internet and application operation.

Malware and Ransomware

Malware is software created to damage, disrupt, or gain illegal access to a client, computer, server, or computer network. Ransomware, on the other hand, is a specific type of malware. It demands ransom, threatening to delete or keep files that are accessed without permission.

Identity Theft

Identity theft is a form of fraud, usually via email, to obtain the information of individuals and companies. This security incident is a method that is frequently encountered in work environments and puts companies at risk in terms of GDPR.

Internal Threats

Internal threats are intentional or unintentional attacks by highly authorized individuals who have access to a company’s assets or data. The fact that employees and managers who have access to data in the remote working system do not have sufficient knowledge about cyber security increases this risk.

For more information, check out the top cyberthreats in 2021.

Why Do Companies Need an Incident Response Plan?

GDPR (General Data Protection Regulation) is a regulation created for the protection of personal data. This regulation also obliges to establish a procedure for how to manage the incident when there is a violation. For this reason, incident response plans are also legally required.

A cyberattack or data breach can wreak havoc on customers, partners, and your company. For example, when personal data of customers and information about your company are captured, it is used for malicious purposes. On the other hand, such cyber threats also mean loss of time, money and reputation for your company.

An incident response plan will help you minimize these losses. With this plan, you can recover your data as soon as possible. At the same time, having a good incident response plan is an important criterion in your relationship of trust with investors, business partners, customers and employees.

In the advanced technology age we live in, many companies from different sectors may encounter data breaches or cybercrime. That’s why the best way to protect your company is to develop a well thought out, repeatable and consistent incident response plan.

Contact us to prepare your incident response plan together with Omreon’s expert team.

What Should You Include in Your Incident Response Plan?

Incident response plans vary according to the structure of the company, the technologies it uses and the data it stores.

However, there are steps that must be taken when devising a plan to protect companies.

Tip: First, summarize the plan’s goals, scope, and guiding principles. Emphasizing the purpose guides the rest of the plan.

Identify Violation and Identify First Steps.

In this section, ask yourself the following questions and incorporate the answers into the plan:

  • Under what conditions should you activate the plan?
  • Who will have the authority to apply for and initiate the plan?
  • Where and how does the incident response team meet?
  • Who should be contacted in the first step?

Create a Requirement List.

Incident response teams must decide in advance what items and information they will need in the event of a breach. For example, spare cables, chargers, notepad etc. Keep tools close by.

Identify Roles and Responsibilities.

Incident response team should be identified. You should also clarify what roles and responsibilities these members have. Note also the backup contacts to be reached if any of these members is unavailable.

Detection and Analysis: Build Scenarios.

All your documentation on how a security breach was identified and detected is in this section. This section usually consists of scenarios. You can seek professional help from people who have experienced similar attacks before and produce practical solutions.

Explain Technical Procedures.

Technical procedures list methods of containment. It also outlines procedures for recovering affected systems and eliminating the threat.

Determine Communication Method and Tool.

Decide in advance what methods and tools you will use when communicating with parties such as cybersecurity consultants, law enforcement, and customers.

Increase Security by Evaluating the Incident.

After the violation is resolved, it is time for the evaluation process. It is necessary to take steps regarding how the violation took place and how to prevent similar violations in the future. Evaluate the event and update your plan to include the necessary changes.

In the event of a cybercrime or data breach, you should predetermine the steps you need to take. Only when you create a regular and systematic incident response plan can you ensure data security.