Protect yourself and your company

If they find no evidence – be it company reports, media reports or other indications – that the hacking victims have complied with their reporting obligations, this information can be extremely lucrative for the blackmailers. Then, warns Andrew Shikiar, Executive Director of the industry association FIDO Alliance, which specializes in identity security, criminals can put additional pressure on their victims by threatening to inform the authorities about the incident themselves. And this is likely to be tricky for companies that have not complied with their reporting obligations: after all, they then face potential fines from regulators.