An Insight on Recovering from a Data Breach in the Marine Industry

Recovering from a cyber security breach in the shipping industry can be a complex and time-consuming process. Companies need to have an Incident Response Plan in place to quickly and effectively address a breach to minimize the damage and return to normal operations as soon as possible. As per the 2022 IBM data breach report, it takes an average of 277 days for a company to identify and contain a data breach.

What is a Data Breach?

A data breach can be defined as an incident where confidential information is stolen or taken from a system without the knowledge or authorization of the system's owner. A data breach exposes confidential, sensitive, or protected information to an unauthorized person. The general weakness that risks anyone to data breach includes new technology and user interactions. These breaches put consumers at risk and violate the trust between an organization and its users.

"A breach alone is not a disaster, but mishandling it is”

- Serene Davis, Underwriter, Beazley

How do Data Breaches happen?

Data breaches can happen in a variety of ways, including:

• • hacking or cyber-attacks, where an attacker gains unauthorized access to a system or network.
• • phishing scams, where an attacker tricks an individual into providing sensitive information or login credentials.
• • weak or easily guessable passwords
• • unsecured or poorly configured network or system infrastructure
• • accidental exposure of data, such as misconfigured cloud storage or unsecured backups
• • malware or malicious software that can steal sensitive information.
• • insider threats, where an employee or contractor with access to sensitive data misuses that access.

Data Breach 2022 Statistics.
Image Source: Truelist

Steps to recover from a Data Breach

The first step in recovering from a cyber security breach is to assess the damage. This includes identifying the cause of the breach, the types of data that were compromised, and the extent of the damage. This can include reviewing log files, analysing network traffic, and interviewing employees who may have information about the incident. This will help determine the best course of action for mitigating the damage and addressing the root cause of the breach.

It is also important to notify relevant authorities and any affected parties, such as customers or partners, about the breach. By law, an organization needs to disclose the incident to the supervisory authority of the country within 72 hours of discovering the data breach. Organizations that fail to report a data breach in the allotted 72-hour time frame do have a chance to explain reasons for the delay but may still face fines and penalties. Law enforcement must be alerted if necessary.

Once the damage has been identified and reported, the next step is to contain the breach. This includes taking immediate steps to minimize further data loss or damage, such as disconnecting affected systems from the network, revoking compromised credentials, patching vulnerabilities, and implementing new security controls.

After the breach has been contained, the focus shifts to restoring normal operations. This includes restoring any data or systems that were compromised and implementing new security measures to prevent similar breaches in the future. Updating and patching software, implementing new security protocols, and conducting regular security audits are measures to improve security implementations.

In addition to technical measures, it is also important to address the human element of cybersecurity. This includes educating employees about best practices for cybersecurity, such as not clicking on suspicious links or sharing passwords. It also includes creating a culture of security within the organization, where employees are encouraged to report suspicious activity and are held accountable for maintaining the security of the company's data.

Recovering from a cyber security breach can be a difficult and time-consuming process, but with a well-crafted plan and a dedicated team in place, it is possible to minimize the damage and return to normal operations as soon as possible. Companies in the shipping industry need to invest in cybersecurity and have a well-defined incident response plan in place to quickly and effectively address a breach to protect the company and its customers from potential harm. A professional incident response team and a well-defined incident response plan can help to minimize the damage and speed up the recovery process.

About the Author

Captain Zarir Irani