Apparently recently there was a business here that experienced a data breach which resulted in its customer’s personal financial information to be compromised. The business seemed oblivious to it as the exploit was caught by one of their customers who quickly issued the alert publicly. To make it worst, the company seemed to downplay it such as saying the issue was minor or that no data has actually been stolen. That didn’t seem to be the case as people started to report suspicious transactions with their credit cards.
I know as a company it’s probably disastrous to admit you had something like this happen. But it’s more disastrous to try and downplay it versus being upfront and providing people with solutions as they may have to warn their financial institutions such as freezing accounts. I think most people would understand that these things happen. Otherwise, it’s like a company having tainted food and just denying it to the point where they will have more liability afterwards.
Funny enough, there are some cultures where they teach you to never admit you made a mistake to maintain a powerful image. But here anyways you can get into a lot of trouble if it ends up being serious. Honesty is the best policy as they say.