Benjamin Franklin is convinced: “It takes many good deeds to build a good reputation, and only one bad one to lose it.” An interesting perspective, especially in a world where we are sharing a tremendous and increasing amount of data. And in times where data protection is more important than ever.
As a company, it really isn’t the question whether you are going to have a data breach. It is much more interesting when you are going to have one. Data records are lost or stolen on a daily basis. It happens in varying degrees. From breaches compromising entire global networks of highly sensitive data, to others having little to no impact. More specifically, from hackers stealing the personal information of 57 million customers; to you forgetting your laptop at the airport and safely getting it back the next day.
How to react to a data breach?
The question is: what is the impact of the data breach and how do you react to it? Besides, what does this do with your company’s reputation? After all, times are changing and customers are starting to care more and more about how businesses react to a data breach. And eventually, their perspective on your company defines your reputation.
Take Uber. The company concealed a data breach of 57M users for more than a year. It even paid the hackers 100,000,- dollars to keep the breach quiet. The compromised information included names, email addresses and phone numbers of 50 million users, the personal information of 7 million Uber drivers, and the drivers’ license numbers of 600,000- Americans.
It’s your reputation
Now Uber is a massive company with great impact. But really it does not matter how big or small the data breach is. The question remains: What would you do? How important is your reputation and what decisions do you make when the inevitable data breach occurs?
As an example, this is how Imgur handled their data breach: https://blog.imgur.com/2017/11/24/notice-of-data-breach/