What happens after there’s a data breach?

Harvard Business Review (HBR) published an article on the security breaches with respect to what it means for the company.  

HBR stated, “Recent high-profile data breaches like those at Target and Home Depot have exposed the private sensitive information of millions of employees and consumers. While consumers are rightfully worried that their personal information may be compromised, shareholders and companies’ management have a wider set of concerns, including loss of intellectual property, operational disruption, decreased customer trust, tarnished brand, and loss of investor commitment. Companies are spending millions in litigation costs, efforts to restore brand loyalty, and refunds”.

What happens after there’s a data breach? Often the result is a legal liability. So how do we take steps to mitigate the threat to ensure there will be no “oops”?

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