From the Perspective of Cyber Law Defense Specialists & Insurance Companies.
With the increasing number of security breaches in large corporations, retail chains and other government, business and financial sectors, the threat landscape clearly dictates that no one is immune to an attack. Very few businesses and organizations actually understand the depth of responsibility they have to protect their customers’ data and personal information, nor do they have an adequate incident response plan in place.
Protecting Your Clients Before and After a Breach Occurs
Data Breaches can leave a devastating scar on a business’ reputation, brand as well as their future.
Businesses that fall victim of cyber-attacks and security breaches will likely be faced with being sued as well as may face other regulatory compliance issues. Defending a client goes beyond the courtroom litigation and should involve incident response plans, data breach forensics, information gathering as well as careful corporate communication and public relations. These are just the tip of the iceberg as to the many other liabilities a client may face with matters such as computer crime law, SEC disclosure requirements, health care legal requirements and potentially much more.
Altogether, the reality of the vast financial impact of an attacked or breached client far extends from response and into the defense of the client in all levels of the law.
Navigating Through Compliance, Risk Assessment & Liability
There are two sides of the cyber-security coin. Those that know they have been compromised, and those that don’t know it yet.
The ever-growing importance of regulatory compliance and risk assessment to a business unfortunately is growing even more complicated. Various regulatory compliance organizations and standards make it a daunting task for smaller business to navigate through their requirements and liability. Even larger corporations and organizations sometimes struggle through without proper guidance and clear understanding of their liability and risk assessment needs.
As data security standards and guidelines evolve, so do the various avenues and angles of cyber security litigation and defense of clients who have fallen victim of attacks. Clearer insight and understanding begins with risk assessment and regulatory compliance. Without the help of qualified and knowledgeable experts, navigating through these requirements are difficult for anyone. Nothing can prepare a business more than having a stringent security policy that includes regular risk and vulnerability assessments, strong incident response plan, as well as expert legal defense partners and security professionals in their corner before, during and after a breach occurs.
Statistics Create More Urgency
99% of all things connected to the internet have been or are being attacked, the number that have been compromised is unknown but believed to be staggering.
More than 80% of the worlds data was created in less than 2 years, and 80% of the world’s population will own a smart phone or device within 5 years. Currently only 20% own a mobile phone, this includes flip phone, not only smart phones.
As you can see DATA and BUSINESS cannot be separated anymore and the protection of that data is not only complex but expensive. The motto of this story is that business owners need greater protections, they are being mandated through many initiatives and you have a duty to your business and customers to protect their sensitive data.
There are thousands of ways to gain access to sensitive data, a firewall and antivirus are 2 ways to stop some of these attacks, but the truth is they are mere hindrances to the bad guys if not configured correctly and maintained regularly. That still leaves thousands of other vulnerabilities available to them and they do not have to be all that smart to be successful. To list them would be pointless as they change tactics and new exploits are found every hour of every day.
- 99% - Devices Vulnerable to Attacks
- 80% - Amount of World's Data Created in Last 2 Years.
- 80% - World's Population with Smartphones in 5 Years
There is no substitute for experience:
No solution will guarantee 100% safety as computing is only going to get more complex in fact of 500% in just five years with the advent of the Internet of Things.
This will create an untold number of new smart devices connected to the internet and to our daily lives. You vigilance should have already started and security should be one of the primary concerns of your business.
Experience is not something you want to learn the hard way, you are going to need the right legal representation fast. You are going to need a cyber defense team to be on YOUR side, as there will be one engaged against you. Forensics are like the television show, they can create very expensive false positives, each must be explored. It is easy to conject the how, when and for how long an attack has transpired.
We have seen it first hand and have spent tens of thousands of dollars chasing these phantoms. You need to have a breach plan as part of your disaster preparedness that include press interaction. Having the experience of a company that has survived this process being your ally and guide in this fight is priceless. Preventing it from happening to your business can be a serious and expensive undertaking, but you can mitigate the damage faster and survive the devastation that being unprepared will likely bring to your business and customers in no action is taken.
Start By Protecting Your Business Today
You do have it in your power to control and greatly reduce your businesses threat profile along with the associated risks.
1. Understand Your Vulnerabilities.
You need to understand your vulnerabilities in relationship to your PCI. Vulnerability scans and proper documentation of the results of these scans are crucial for validating your compliance to security regulation you are validating.
2. Understand the Big Picture
Educate yourself on how to remediate those threats and understand the big picture of policies that you will have to adopt in your company.
3. Control Access To Your Environment.
You learn how to control who has access to your systems and how to hold them accountable.