Users trust companies with their data and expect them to be able to guarantee its protection. Any incident related to cybersecurity immediately becomes public, and the reputation of a company that has fallen victim to attackers is destroyed much faster than it can be restored. A single data leak or vulnerability in a mobile application can cause problems that the company will feel for a long time.
In this article, we will talk about how cyber incidents affect a company’s reputation and how to restore the trust of customers and partners.
Reputational consequences of cyberattacks for business
Almost every business that becomes a victim of an attack suffers losses – financial, operational, or reputational. In addition to losing money, valuable information, or experiencing disruptions in business processes, companies face other serious consequences that damage their reputation:
- Deterioration of relationships with partners – suppliers and investors may question the company’s reliability.
- Loss of trust and loyalty from customers – people no longer consider the company safe, and some switch to competitors.
- Damage to brand image – associations with weak security reduce trust in the product, making it more difficult to attract new customers.
- Increased attention from regulators – they are obliged to respond to incidents that may indicate non-compliance with security requirements.
Why are reputational consequences the most difficult?
Reputational consequences are considered the most difficult because they are the hardest to eliminate or control. Building an image and trust is a long process that can be destroyed by a single cyber incident. Restoring business processes, although time-consuming, is possible, whereas winning back a customer who no longer trusts you and has switched to a competitor is extremely difficult.
If a company has already allowed a data breach or asset theft, it will be very hard to restore the belief that it can be trusted. This may take months or even years.
Any negative news about a data breach or hack spreads instantly – bad news travels fast, unlike corrections. And information that the company has fixed the consequences of a cyberattack either goes unnoticed or is not perceived with trust. People remember incidents for a long time, and often the “stain” on the reputation remains for many years.
How to restore reputation?
- The first step to regaining trust is transparency. The company must quickly report the incident and never attempt to hide it.
- It is important to promptly take measures to strengthen protection, review security policies, and publicly communicate this, demonstrating responsibility and explaining to customers and partners what actions have already been taken.
- If customers were affected, the company should offer them support and provide personal consultations, showing that care is very important.
- Cooperation with the media and communication on social networks are equally important – you need to explain the situation, show improvements, and answer questions.
- Engaging independent experts and undergoing an audit is the best confirmation for partners and customers that the situation is under control and that security has been strengthened. More information about the company that provides such services is available here.
Security assessment – the best prevention
In most cases, reputational problems can be avoided if you take care of reliable protection and regular cybersecurity assessments in advance.
To prevent reputational risks caused by cyberattacks and reduce the likelihood of incidents, it is worth regularly checking your security system.
Here are the most effective types of cybersecurity assessments:
- Code security audit – a detailed analysis of the program code that identifies logical errors and vulnerabilities that may lead to data leaks.
- Penetration testing – a simulation of a real attack that helps identify vulnerabilities in the protection system and demonstrates how an attacker can break into the system.
- Cybersecurity monitoring – round-the-clock monitoring and prompt response to incidents, which helps reduce the scale of an attack and avoid its consequences.
Independent cybersecurity expertise against reputational risks
The results of independent assessments help restore the trust of users and partners and demonstrate a serious commitment to security – this is why companies are increasingly turning to external cybersecurity experts such as Datami.
Datami is a team of certified specialists with practical experience, operating in the international market for over 8 years. They have conducted more than 400 pentests and hold 26 international certificates.
The company provides a full range of cybersecurity services: penetration testing of various types, smart contract audits, 24/7 monitoring, code security review, smart contract audits, remediation and recovery after cyberattacks, and the development of security protocols and policies – more information is available on the website datami.ee.
If your business aims to strengthen its reputation and demonstrate a real level of cyber protection, Datami is ready to be your reliable partner in building a robust security system.
