Recovering Compensation from a Business Cyber Attack

Businesses becoming victims of cyber-attacks are very common in today’s technological age. Whether a business is small or large, it is much likely to fall a victim of a cyber-attack, compromising all of its confidential data and information. Businesses that use computers and computing devices more often are highly vulnerable to cyber-attacks such as hacking, phishing or identity theft.

Since 2000 the computers began dominating the world of business, the consequent cyber-attacks also became widely popular. Given this security threat to businesses, the Cyber Security Enhancement Act of 2002 was passed which introduced to privacy protection, computer crime sentencing detail and guide of enhanced penalties.

Moreover, under Article 225 of the Computer Fraud and Abuse Act (CFAA), the guidelines were modified to consider the seriousness of the penalties and sentencing for example, if a cyber-attacker intentionally, unintentionally or negligently violates the law and commits cybercrime will be given jail sentence for up to 20 years.

The Damages Caused by a Cyber Attack:

The harm caused by a cyber-attack most often is of serious nature risking the whole business. Such attacks are abundant in Trojans, viruses, malware, spyware, and other frequent digital attacks shutting down entire networks in one or multiple buildings. In case of a Denial of Service Attack, the hacker constantly interrupts through these barrages to a whole computer network. In a single criminal attack, the host shuts down the whole network of a large company with little trouble.

Cyber-Attack Statistics:

 Such attacks are ever increasing with the highest number of attacks from 2016 to 2017. According to a report, more than 300,000 cyber-attacks occurred only in 2017. There were many other attacks which were not reported and went undetected by the companies. Cyber-crimes are on the rise and will keep on affecting the businesses at some point. With effective legal assistance, strong administrative and IT team, such attacks are fought back and remain for a short span after the first attack.

What to Do When a Business Experiences a Cyber-Attack?

Before taking any step towards recovery, a business owner must identify that an attack occurs. The awareness and nature of the attack are possible only with a highly competitive and an experienced IT team. Apart from diagnosis, these teams also tell how deadly and costly the attack was; where the hacker has hit and what he or she has used to attack or damage the company. Usually, it takes 200 days to discover that a cyber-attack has occurred. The businesses can detect, prevent and fight back such attacks with the help of a proper cyber-security.

How to Contain a Cyber-Attack?

In order to prevent further damage to the system and understand the extent of the attack, the IT team must contain the attack. This may include more manpower, additional software or hardware. In many cases, the data remains vulnerable after the breaching software is no longer leaking the information.

It is mandatory to understand what type of breach was occurred? How and how much data is lost? What type of cyber-attack happened? And where the attack took place? The problem becomes highly severe if the attack affects the clients or loss of assets.

Recovery and Compensation from the Attack:

In case of a severe cyber-attack, the company owner often needs to take additional steps before the claim. It includes the restoration of the entire system, informing the stakeholders or taking effective steps to prevent such attacks in the future. In order to carry out these steps toward recovery. If the company tracks the culprit, it becomes easier to hold the person responsible for the recovery.

Most often, the culprit in cyber-attack is not found. In this case, the company recovers the damages from the insurance company, if the owner has a purchase policy that covers cyber-attacks.

Legal Assistance:    

In order to recover from the damages, the culprit the business owner must hire an attorney. The attorney in most of the cases attempts to recover the damages from the insurance company by presenting the information regarding the attack.

If your business is also a victim of a cyber-attack, consult a criminal defense attorney to recover the damages. And if you have found the culprit, seek the attorney’s expert advice about filing a lawsuit against him or her.