The Critical Role of Security Incident Reporting in Cyber Security

Reducing the harm caused by a cyber security attack begins the moment an incident is recognised. Being aware of imminent danger makes an organisation far more resilient. These threats are not to be ignored: recent estimates put the global cost of cybercrime and cyber attacks at around US$9.5 trillion in 2024, with projections rising to an astonishing US$10.5 trillion by 2025.

Mitigating breaches starts with understanding what constitutes a security incident. An incident reporting system ensures that your team has the information needed to respond efficiently to any security event.

Types of Security Incidents to Report

Cyber threats are often hidden in plain sight. According to an IBM survey, it takes an average of 287 days to detect and contain a data breach. Organisations that respond quickly can reduce costs by 30% and contain threats in under 200 days. So, what types of incidents should your reporting system capture?

Phishing

Cyber attackers frequently target employees through phishing, tricking them into sharing login credentials or sensitive data. Your incident reporting system should capture all details of suspected phishing attempts, including whether links were clicked or attachments opened. Accurate reporting helps evaluate the incident’s scope.

Learn more in Phishing Prevention Strategies.

Lost Device

Lost or stolen company devices can lead to data exposure, especially when devices sync with cloud apps. Quick reporting ensures the incident is triaged and mitigated promptly.

Accidental Data Leak

58% of employees have sent emails to the wrong recipient. Such mistakes can result in data loss and non-compliance. Immediate reporting minimises risk and helps organisations act in line with regulations.

Other Email-Related Incidents

Even forgetting to BCC recipients can lead to accidental data exposure. Prompt reporting initiates a response to protect sensitive information.

5 Reasons to Report Cyber Security Incidents

1. Encourages a Culture of Security

Incident reporting should be seen as part of everyday operations, fostering a community-driven approach to tackling cyber threats.

2. Streamlines Incident Response

Automated workflows and configurable reporting systems ensure incidents escalate efficiently to the right team members, preventing minor issues from becoming major breaches.

3. Enforces Security Policies

Incident reporting systems support policy enforcement by guiding incidents through triage and mitigation in line with company guidelines.

4. Prevents Costly Security Events

IBM’s Cost of a Data Breach Report highlights the financial impact of breaches. A strong reporting culture reduces the chance of minor incidents escalating.

5. Maintains Regulatory Compliance

Incident reporting helps organisations comply with standards such as ISO27001, DPA2018, and GDPR, ensuring proper documentation for breach notifications.

Read more on Transforming Compliance Management.

Three Best Practices for Security Incident Reporting

1) Easy Security Incident Reporting

Reporting should be simple and intuitive. Avoid complicated forms to encourage timely submissions of incidents.

2) Appropriate Escalation

Automated workflows alert the right personnel to the incident, ensuring a fast and effective response.

3) Audit and Report

Systems should generate reports for compliance audits and evidence for breach notifications, supporting organisational accountability.

Collecting incident data and automating workflows forms the backbone of a successful reporting system, preventing incidents from escalating into breaches.

Learn More About MetaCompliance Solutions

Explore our comprehensive suite of solutions designed to protect your organisation, reduce human risk, and enhance cyber resilience. Our Human Risk Management Platform encompasses:

• Automated Security Awareness
• Advanced Phishing Simulations
• Risk Intelligence & Analytics
• Compliance Management

To see how these solutions can strengthen your organisation’s security posture, contact us today to book a demo.