T-Mobile Caught Holding the Bag as Experian Loses Customer Data
Fortunately, T-Mobile has a CEO with a high profile who can make himself heard above the ambient noise on Twitter. But what about your company? How much would it cost you to get your customers back after Experian or some other partner abused your trust? Then ask yourself how long it would take you to rebuild your reputation. Data breaches, regardless of the cause, can have a profound impact on companies, and the fact that it's not their fault may not help much. So while you're checking to see if you use Experian for anything, also think about some additional actions. Check the contracts you have with other companies and make sure you have included their responsibility for protecting your data, and that you specify who gets to pay when they drop the ball. Check with your legal team to make sure that you have the means in place to force your business partners to offer more than just basic protections for your customers if they get hurt in a breach caused by your business partner.The problem is that companies with a history of irresponsibility aren't going to heed calls to do things like having their CEO resign. The only way they'll change their ways is when it promises one of two things. The first is a significant hit on the bottom line. The second is jail time. It's not clear that Experian broke any criminal laws with its data breaches, which leaves out the jail time option. The only other thing you can do is hit their bottom line hard enough that they pay attention. If enough companies do that, perhaps they'll pay attention to the need to act responsibly.
And finally, check to see if there's any exposure regarding your business for the current Experian data breach. If there is, maybe it's time to talk to that legal team of yours about finding ways to make sure you've taken every possible step to recover from Experian for any potential loss to your company.