The known
UNKNOWNS
QUESTIONTRUST
AOF
BREACHES IMPACT CONFIDENCEB E H A V I O R&
YEAR BREACHOFTHE
LESSONSTHEFROM
$10 $13 $21 $17Do the following to reduce your cost for each customer record compromised2
Appoint a Chief Information
Security Officer
Involve business continuity
management
Maintain astrong securityposture inplace
Create an incidentresponse plan
prior to a breach
Cost of a Data BreachPonemon Institute
Create a breach response teamAssemble a multi-functional team, such as legal, marketing, customer service, corporate communications, IT and HR
Determine vulnerabilitiesReview the types of data that the company stores and what groups could be a�ected by a data breach
Establish forensic and tech capabilitiesEnsure company is able to rapidly assess the size, scope and nature of a breach
Calculate insurance coverageThe cost of breach response is not covered by all general insurance plans, so understand the limitations of your plan
Identify legal and regulatory obligationsUnderstand the requirements for your company, as obligations vary by state and industry
Evaluate comprehensive identity theft protection servicesLearn about available breach response services and how they di�er
Create a breach playbookPlan the legal processes, communications, and third-parties the company would activate in the event of a breach
Review plan annuallyAssemble the crisis response team annually to reassess vulnerabilities and preparedness
Negative publicity associated with a data breach can damageyour reputation, resulting in higher churn rates & impede new
customer acquisitions2
1 in 9 customers a�ected by a data breach stopped shopping at a particular retailer4
Interviews with 21 corporate executive decision-makers about data breach protocol revealed:
percent of
total cyber
security
budget goes
to breach
remediation12010to
know that they
need a breach
preparedness plan1
73of customerswho signed
up for LifeLockfeel protected
43of customers who
signed up for credit monitoring feel protected4
vsPERCENT PERCENT
BREACH 101HAVE A PLAN
1 2 3 4100%
All rate their concern of data
breach around a 4 or 5 on a
5 point scale1
5
6X
Individualswho were
notified theirpersonal
informationwas part of
a breach are
more likely tohave been a
victim of identitytheft in the past
56
Customerswant retailers& banks to domore to protecttheir customers
from a data breach412
3MONTHS
1.“B2B Data Breach Qualitative Research,” a commissioned survey conducted by JTZ Inc. on behalf of LifeLock. June 2014.
2.“2014 Cost of a Data Breach: Global Analysis.” Ponemon Institute. May 2014.3.Identity Theft Study, a commissioned survey conducted by Forrester Consulting on behalf of LifeLock, April/May 2014. Results are based on survey participant identity theft and life events of past 12 months.4.Based on the responses of 1,200+ U.S. consumers surveyed by Morpace, an independent third-party research firm, September 2014.
