Recently, the State of Israel has experienced multiple cyber attacks. Many companies in the economy, hospitals, and even the Ministry of Defense have experienced cyber incidents. Cyber attacks are digital and technological attacks that target linked information systems. Attackers can move freely from system to system, accessing servers containing sensitive and confidential information of companies and individuals.
In the event of a cyber attack, organizations need to consider their reporting obligations. Cyber attacks can impact any organization, whether governmental or private. When assessing the impact of a cyber attack, organizations should first determine what information has been exposed or leaked and if they have a specific regulator to inform.
Organizations should conduct damage control to assess the extent of the breach and what information may have been compromised. For confidential/business information, organizations may be required to report to specific regulators based on the nature and extent of the incident. If personal information is compromised, reporting to the Privacy Protection Authority is necessary, depending on the security level of the database.
Reporting obligations may vary based on the type of organization, regulators involved, and the impact of the cyber incident. Organizations may need to report to supervisory bodies, regulatory authorities, or stock exchanges depending on the circumstances. It is essential to evaluate the severity of the incident, any ransom demands, technological failures, and other factors that may affect reporting requirements.
While reporting to the national cyber system is optional, organizations should carefully assess their reporting obligations to ensure compliance with relevant regulations. Cyber incidents can have far-reaching implications for organizations, and proper reporting is crucial in managing the aftermath of an attack.