Adequate responses to cyber-attacks

Cybersecurity has become a prominent issue for companies in all sectors. Businesses need to ensure that they have taken the necessary measures and have methodically prepared for a cybersecurity incident. The impact of a cyber-attack can be significantly reduced by a company’s ability to react quickly to unexpected events. This article aims to highlight ways to reduce the likelihood and impact of a cyber-attack and provide a clear understanding of the critical steps and appropriate responses to such attacks. Even though cyber risk has become one of the most critical operational risks for firms, the literature has not yet sufficiently addressed the practical ways companies can reduce exposure and mitigate these risks. Therefore, this article contributes to the literature by providing immediate steps that organizations should take in three possible situations, before, during, and after a cyber-attack.