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Defense in Depth
Reputational Damage from Breaches
May 25, 2023
The podcast discusses the reality and impact of reputational damage caused by breaches, including the relationship between data breaches and stock prices. It highlights the importance of experience in handling breaches and explores the financial impact on small and medium-sized businesses. The episode delves into the significance of brand loyalty and customer trust, as well as the inevitability of breaches and the need for proper handling.
30:45
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Quick takeaways
- The actual impact of a breach on a company's reputation may not be as severe or long-lasting as expected, with brand damage often being acute and not sustained.
- The handling of a breach, particularly in terms of communication, transparency, and trust-building, plays a significant role in mitigating reputational harm and how a company is perceived by its stakeholders.
Deep dives
Reputational Damage from Breaches
Reputational damage from breaches is a topic of concern for many security professionals. However, the actual impact on a company's reputation may not always be as severe or long-lasting as expected. While major breaches like those experienced by Target and Neiman Marcus didn't appear to have a significant long-term effect on their reputation, it's important to note that brand damage does occur, although it is often acute and not sustained. The response and handling of a breach, particularly in the case of consumer companies, play a significant role in determining if customers continue to do business with them. Communication, transparency, and trust-building are crucial in mitigating reputational harm.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode