Exploring the Impact: Royal Mail’s Data Breach Investigation on Supplier Security
that belonged to one of its suppliers.
Taking immediate action and aligning with law enforcement agencies, Royal Mail has become ensnared in the latest incident to rock the cybersecurity landscape; an incident that throws the spotlight back on the increased risks cyber threats hold for large and small enterprises alike.
Quick Remedial Measures
The company has not yet revealed the name of the supplier affected, nor has it confirmed the authenticity of the threatened data dump.
Cybersecurity Landscape
In an October survey by cybersecurity firm Sophos, over half of organisations reported being hit by ransomware in the past year.
Royal Mail, and in this instance its unnamed supplier, are the latest additions to a growing list of companies who have experienced such threats, following giants like Marriott International, EasyJet, and Twitter.
Cyber Threat Impact on Businesses
IBM’s 2020 Cost of a Data Breach Report estimates the global average cost of a data breach at $3.86 million.
This figure only grows for companies in the United States, with an average cost hitting $8.64 million per incident.
From such incidents, it becomes critical for organisations to invest in their cyber defence mechanisms and train their employees to be aware of such threats.
Practical Advice
It’s also essential to communicate with stakeholders, comply with data breach notification laws, and consider enrolling affected parties in credit monitoring services.
In preparing for future attacks, businesses tend to focus on technical measures, such as encryption, two-factor authentication, and regularly updating software.
However, a comprehensive plan also includes training employees about phishing scams and educating them about the importance of using strong, unique passwords for each device and online account.
Follow-Up Reading
1. IBM’s 2020 Cost of a Data Breach Report
2. Sophos October Survey on Cybersecurity
3. Marriott International’s Experience with Data Breaches
