Menu
What to do about a data breach

What to do about a data breach

Measures that can help preserve your company's reputation in the event of a data breach can also be a competitive differentiator. They can even increase business.

The US Department of Justice's indictment of 11 people for the organized hacking of nine major US retailers (including the TJX companies) and the theft and sale of more than 40 million credit and debit card numbers drives home the level of risk to all businesses. While actual costs and reputational harm can be quite damaging to a company, a little planning can make all the difference.

Brian Shniderman, director of banking and payments at Deloitte Consulting, recommends steps companies can take to handle breaches quickly and effectively if they occur. Such effective handling includes:

Offer fraud/dispute insurance products to reduce customers' sense of perceived vulnerability before a breach occurs.

Provide an online "one-stop shop" tool that enables consumers to report unauthorized use. All impacted relationships should be automatically and immediately notified. These would include credit agencies, merchants and other third parties.

Differentiate yourself by offering good customers extra benefits like fraud protection and resolution. Such differentiated offerings could include:

  • "White-glove" treatment in cases of fraud;
  • Assigning a customer service representative to help the customer through the entire process;
  • Assisting the customer in identifying suspicious transactions;
  • Offering a guarantee to customers to go above and beyond the legal obligations; and
  • Sharing appropriate information with customers and keeping them informed throughout the investigation and resolution processes.

Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
Show Comments