As a Start-Up, if one of your systems gets hacked, it is crucial to take swift and appropriate action to contain the damage and prevent further breaches. Below are 10 key actions that you and your team should perform:
Isolate the affected system: Disconnect the affected system from the network to prevent the attacker from gaining further access or spreading malware.
Identify the extent of the breach: Use forensic tools to determine the scope of the attack, including which systems and data were compromised.
Change all compromised passwords: Use strong, unique passwords to prevent the attacker from regaining access.
Run a scan of your system with antivirus and anti-malware software: This will detect and remove any malicious software that may be present on the system.
Review system and application logs: Determine how the attacker gained access and take steps to close those vulnerabilities.
Notify relevant parties: Notify any relevant parties, such as your IT department, hosting provider, or law enforcement.
Restore your data from backups: If possible, restore your data from backups to minimise data loss.
Implement incident response plan: Initiate incident response plan and alert the incident response team.
Communicate with stakeholders: Communicate with stakeholders and management on the incident and the actions taken.
Review and improve security measures: Review and improve security measures to prevent similar incidents from happening in the future.
Risks if you do not act swiftly:
Data Loss: If the attacker gains access to sensitive information, it could be lost or stolen.
Reputation Damage: A data breach can damage the reputation of the organisation and can lead to a loss of trust from customers and partners.
Legal action: The organisation may face legal action if the data breach results in sensitive information being lost or stolen.
Financial Loss: The organisation may suffer financial losses due to the recovery cost and fines or damages.
Business disruption: The organisation may have to shut down systems or operations to recover temporarily; this can cause significant business disruption.
Final Thoughts
It's essential to have an incident response plan, which is reviewed at least once a year, and to act swiftly to minimise the damage of a data breach.
About the Author
Adam Ryan is a Professor of Practice (Adjunct Professor) at Monash University and is a principal at Watkins Bay. Adam has over twenty years of start-up experience in Australia and the USA. An expert in Company Structuring for Innovation, Strategy, Mergers & Acquisitions, and Capital for early and growth-stage businesses.
Contact Details
Australia +61 (0) 418 325 387
USA + 1 (858) 252-0954
Email adam@watkinsbay.com
Reach out via Linked In
