The Green Sheet Online Edition
September 22, 2014 • Issue 14:09:02
Managed plan for data breaches
With the rising incidence of high-profile data breaches at big-box retailers, smaller brick-and-mortar merchants are well advised to have an action plan for dealing with such incidents within their own establishments. Left unmanaged, not only can breaches have a devastating impact on businesses in terms of mitigation costs, but the damage to reputation is often irreparable.
The Data Incident Management Program by Conformance Technology is the latest offering from the data risk and compliance provider. Designed to help merchants of all sizes react quickly, proactively and professionally in the event of a data incident, the program's objectives are to reduce the scope of harm to merchant businesses and minimize out-of-pocket expenses incurred.
"Our new Data Incident Management Program is an integrated service offering that easily manages all aspects of a data incident, reducing costs for all parties involved while ensuring a professional resolution to issues," said Darrel Anderson, President of Conformance Technologies.
Services include a full forensics investigation, review and reporting of incidents in compliance with regulatory mandates. Coverage also includes up to $1,500 in POS equipment replacement costs per merchant ID and up to $10,000 in legal services from a law firm that specializes in data loss and compromise issues. The service provides issuance of proper data incident notifications, including those to consumers, along with professional communications services.
Additional benefits of the Data Incident Management Program include:
- Data incident forensics investigations
- EMV-compliant POS replacements
- Media and internal communications services
- Revenue generating reseller opportunities
"Our company goal is to provide a perfect mix of conformity and performance," Anderson said. "We do this by creating products and services that allow both portfolio operators and their end-user customers the ability to easily manage and measure a variety of compliance and operational tasks."
According to Conformance, the program "creates significant revenue-generating opportunities for resellers and aggregators who manage groups or portfolios of businesses and consumers," including ISO entities, that typically charge a small monthly fee to merchants for the program
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