“Responding to frustration at how credit-reporting agency Equifax disclosed its 2017 breach affecting more than 145 million U.S. consumers, U.S. Reps. Blaine Luetkemeyer, R-Missouri, and Carolyn Maloney, D-New York, have circulated a draft bill to create a federal breach notification law.”
So, as a firm with clients, many of whom are lucrative cybercrime targets, are you ready to pick up the phone and let your clients know that their data has been stolen? If not, it’s time to get ready by:
Creating a plan to communicate with your clients in a timely and transparent manner what has happened, in the event that something goes wrong. After all, there is no guaranteed way to prevent an attack and today’s cybercriminals are highly sophisticated.
The old saying “an ounce of prevention is worth a pound of cure” certainly holds true here. The more you do today to protect your firm and its clients, the better chance you have of never having to make that call. That said, if you do - you better do it, or face even steeper consequences.