Risk mitigation with Qostodian

Region: Canada

Incident Assessment

A Canadian financial institution faced a significant data security and privacy challenge when a laptop belonging to a key employee was stolen. The incident, described as a first of its kind by a team member in their 15-year tenure at the organization, raised immediate concerns. The stolen device, containing sensitive employee data, confidential files, and proprietary files, escalated a sense of urgency within the company to assess the potential risk, response, and liabilities. At the time of this event, the institution was in the process of testing Qohash’s data security platform, Qostodian, providing an opportunity to evaluate its effectiveness in real-time in mitigating data exposure risks.

Beyond the immediate crisis, the incident highlighted a larger issue of ROT (Redundant, Outdated, and Trivial) data. The inability to distinguish between critical and non critical data guaranteed a slowed response time and unnecessary risk exposure.. “The immediate concern was nobody actually had any context of what was on the laptop… there were a lot of people sitting there staring at each other.” Organizations often overlook this issue of ROT data, yet it poses significant threats when integrated into data transformation initiatives or AI adoption efforts. With it left unchecked, companies face greater exposure to security vulnerabilities and challenges in compliance adherence.

Without a robust data visibility solution, the team would have been forced to engage in time-consuming and complex investigations to determine the scope of the data compromised. This manual process would not only delay the response but also introduce uncertainty into the accuracy of the findings. As the team member noted:

The incident also exposed insider threat vulnerabilities and excessive data-sharing practices within the institution, underscoring the need for a more structured data governance approach.

Response

With Qohash’s Qostodian platform, the financial institution was able to rapidly assess the situation. The platform’s advanced data discovery and classification capabilities meant the team could quickly generate a detailed report outlining the nature, sensitivity, and scope of the data involved. This capability drastically reduced response time and enabled the team to shift their focus from lengthy forensic investigations to actionable mitigation strategies.

Qohash’s platform allowed the team to shift from reactionary investigations to proactive risk mitigation. The platform’s ability to identify and prioritize high-risk data, finding the ‘needles’ rather than sifting through the entire ‘haystack’, allowed the institution to mitigate risk immediately. By providing clarity on what data was exposed, Qohash helped the team develop targeted policies to address future vulnerabilities. This real-time insight not only resolved the incident efficiently but also surfaced systemic issues that had gone unnoticed, such as the over-distribution of sensitive information across departments.

Business impact

The institution has now fully deployed Qohash across its operations, leveraging the platform’s capabilities to enhance visibility and governance over sensitive data. With this implementation, the organization has taken a significant step toward strengthening its overall data governance framework. Moving forward, the focus will shift to proactively minimizing unnecessary data sharing, a critical factor in reducing the risk of exposure before incidents, like the stolen laptop occurrence. The institution aims to limit its risk footprint, ensuring that sensitive information is accessible only to those who truly require it.

By addressing redundant and excessive data distribution, the institution is now taking a proactive approach to mitigating risk before incidents occur. This preemptive approach of minimizing the risk footprint underscores a cultural shift toward prioritizing data security as a proactive measure rather than a reactive response. By limiting their vulnerability to potential breaches and misuse, the organization is not only protecting its data but also building resilience against future threats. The goal is clear: to embed best practices in data handling across all operations, ensuring that risks are mitigated long before they have the chance to materialize.

The deployment of Qohash’s Qostodian platform has allowed the financial institution to transition from uncertainty to clarity during a critical security event. By providing precise, actionable insights, the organization has strengthened its data governance posture, minimized regulatory risk, and built a resilient security framework for future AI-driven initiatives.

By reinforcing AI security, insider risk mitigation, and regulatory compliance, Qohash empowers organizations to transform their approach to data protection, ensuring they remain ahead of evolving cyber threats.