With new security events and data breaches making news on a weekly (if not daily) basis, a multi-disciplinary, end-to-end service called BreachAid is rushing to companies’ aid. It plans to act as an emergency service for businesses under cyber-attack.
PwC is behind the website, which encompasses features like identifying and responding to a breach or leak, to crisis management in the event of an incident, tackling the aftermath and handling any legal requirements.
The launch comes at a time when businesses are preparing for new regulation set to be finalized by the European Union in 2015 which will lead to greater disclosure of security incidents in Europe.
“Organisations that suspect they have suffered a security breach need to act quickly,” said Stewart Room, PwC Legal data privacy and protection partner. “Time is critical and the law requires that they act fast, under immense pressure. We’ve put in place a new service, joining up our multi-disciplinary teams across the globe, to help deal with these issues.”
PwC’s annual survey of chief executives reported that nearly half (48%) are concerned about cyber-threats, including data privacy. “Business leaders in the UK and across Europe face new legal challenges next year and will be closely monitoring the new regulation to see what impact it will have on their operations,” Room said. “Executives need to start to prepare now for the challenges that lie ahead.”
The number of reported security incidents around the world rose 48% to 42.8 million, the equivalent of 117,339 attacks per day in 2013, according to the survey. And in total, 70% of UK companies say they experienced some business down time as a result of security incidents this year; 59% experienced up to 24 hours of down time.
“From our recent survey on information security, we know that over a quarter of business leaders say it is a priority to have an incident response process to report and handle breaches,” Room noted. “But the majority are burying their heads in the sand by not taking appropriate steps. Having advisers on hand, and a proper process in place to handle breaches and deal with the myriad of complex legal issues arising, is essential.”