Even though it now appears there was no terrorist attack on a pump at an Illinois water utility, the SCADA infiltration scare was a reminder that data breaches can come from any number of angles.The year 2011 has been pockmarked with one breach after another, with the Sony PlayStation Network and even security leader RSA getting hit.So what’s a company to do? Do you hide the fact that your network has been hacked or do you make that information public immediately to try to minimize damage in the court of public opinion? We have two experts who recommend taking different tacks, with one advocating that you don’t say anything until forced to and the other insisting doing so is a critical first step.One study says that it could cost a company $204 per compromised customer record with the average total cost running in the neighborhood of $7 million. One answer is cyber insurance. If hackers are always one step ahead of those protecting your network, a viable option is to have insurance to help defray the costs of damages. To continue reading, register here to become an Insider. You’ll get free access to premium content from CIO, Computerworld, CSO, InfoWorld, and Network World. See more Insider content or sign in. Related content news Arm patches bugs in Mali GPUs that affect Android phones and Chromebooks The vulnerability with active exploitations allows local non-privileged users to access freed-up memory for staging new attacks. By Shweta Sharma Oct 03, 2023 3 mins Android Security Android Security Mobile Security news UK businesses face tightening cybersecurity budgets as incidents spike More than a quarter of UK organisations think their cybersecurity budget is inadequate to protect them from growing threats. By Michael Hill Oct 03, 2023 3 mins CSO and CISO Risk Management news Cybersecurity experts raise concerns over EU Cyber Resilience Act’s vulnerability disclosure requirements Open letter claims current provisions will create new threats that undermine the security of digital products and individuals. By Michael Hill Oct 03, 2023 4 mins Regulation Compliance Vulnerabilities feature The value of threat intelligence — and challenges CISOs face in using it effectively Knowing the who, what, when, and how of bad actors and their methods is a boon to security, but experts say many teams are not always using such intel to their best advantage. By Mary K. Pratt Oct 03, 2023 10 mins CSO and CISO Advanced Persistent Threats Threat and Vulnerability Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe