CEO to CEO: Breach Response Advice for Capital OneArt Coviello, ex-Chair of RSA, Shares Insights on Critical Next Steps
In the wake of news that Capital One has been victim of a significant data breach, it is a critical time to reassure nervous customers, investors and the financial services industry. Art Coviello, former chair of RSA, who guided the company through its landmark 2011 data breach, provides informed advice on next steps.
"What (Capital One) need to do is be as forthcoming as they possibly can about what exactly happened and what they are going to do to remediate the situation for their customers and for their internal systems to give people confidence that something like that won't happen again," Coviello says.
However, since the breach has already occurred, Capital One is left with little to offer other than free credit monitoring for customers that have had their data stolen.
"Unfortunately, there's not much more that can be done - the horse is out of the barn to the extent of the information that's out there."
In this interview (see audio link below photo), Coviello discusses:
- The critical early remediation steps following a data breach;
- Implications for cloud services and trust;
- Differences in defensive technologies between the 2011 RSA data breach and today.
Coviello has more than 30 years of strategic, operating and financial management experience at high-technology companies and is one of the most recognized figures within the cybersecurity industry. He became CEO of RSA Security Inc. in 2000 and continued to lead the company following the acquisition by EMC in 2006 until he retired as executive chairman in 2015. Coviello has played a leading role in several national cybersecurity initiatives, including as a founding board member of the Cyber Security Industry Alliance, and has served as an adviser to key government agencies as well as public-private initiatives. He is currently a partner at Rally Ventures.