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In the digital age, data breaches aren't just technical failures; they’re crises that can unravel an organisation’s reputation and client trust. Consider the incident that happened to Hong Kong Consumer Council in 2023: Its computer system was attacked by malicious ransomware where sensitive data, including HKID numbers and credit card information of thousands — current and former staff, their family members, as well as the 8,000 subscribers of the council’s monthly magazine — was put at risk.¹
The repercussions for many similar cases are immediate and severe, leaving organisations and individuals grappling with the fallout. This is a stark reminder data privacy is no longer an afterthought but a fundamental aspect of business integrity. Instant action is necessary, and legal advisors are always the first to offer assistance.
When a data breach strikes, every second counts as legal and financial repercussions can be significant, particularly if personal data from the consumers or businesses has been exposed. A necessary first step is to secure your systems to prevent further loss of data. Beyond that, organisations should reach out to their legal and corporate communications teams. Legal advisors can provide guidance on potential issues and immediate actions, while corporate communications teams can proactively impart remediation efforts to those affected. The response plan from these teams can determine the outcome of the situation and influence public perception.
Take the Cyberport data breach as a prime example of how good measures were put into place. In 2023, Cyberport faced a severe data breach, resulting in the exposure of 13,000 individuals’ personal data, including potential candidates and former employees.² The tech incubator was blackmailed and demanded to pay attackers US$300,000 (~HK$2,340,000) to regain access to stolen and encrypted data.³ To address concerns and provide transparency to its partners and those affected, Cyberport immediately offered complimentary identity monitoring services. This proactive response demonstrated its commitment to both resolving the incident and supporting those impacted.
Incidents like these highlight the growing importance of investing in robust cybersecurity tools as part of a comprehensive crisis management strategy. A proactive approach can reduce financial impacts and protect your organisation’s reputation.
Identity monitoring services act like a digital lookout, constantly scanning the dark web — shadowy corners of the internet where cybercriminals traffic stolen data — for mentions of any compromised sensitive information.
When a breach occurs, customers’ and employees’ personal data should always be a top priority, and organisations should proactively work to safeguard it. As part of an organisation’s crisis response, TransUnion Dark Web Monitoring services should be offered as a form of compensation for those affected. It can alert individuals if their data appears on these illicit marketplaces, allowing them to take swift action.
For consumers, this service offers critical reassurance. Imagine knowing your compromised data is out there, but it’s kept in the light and away from potential misuse. For organisations, this is a responsibility that should not be overlooked.
Effective crisis management in the face of cyber attacks isn’t just advisable but essential. TransUnion Dark Web Monitoring service should be a standard offering in advising for crisis response. Legal teams have a unique opportunity to guide their affected organisations through the complexities of cybersecurity, helping them implement best practices, protect their brands, and maintain consumer trust. In a world where cyber threats are omnipresent, let’s not wait for the next breach to take action. Equip your organisations with the tools to anticipate, manage and mitigate these threats effectively.
Contact TransUnion or download our Dark Web Monitoring asset sheet to see how you can unlock the full potential of cybersecurity.
¹ Cyberattack on the Consumer Council’s Computer System, Hong Kong Consumer Council
² Update on Cyberport cybersecurity incident, Cyberport
³ Hong Kong Cyberport defends move to not reveal hacking attack, South China Morning Post
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