This article appeared in Cybersecurity Law & Strategy, an ALM publication for privacy and security professionals, Chief Information Security Officers, Chief Information Officers, Chief Technology Officers, Corporate Counsel, Internet and Tech Practitioners, In-House Counsel. Visit the website to learn more.
The increasing damages of global ransomware have grown from $325 million in 2015 to an estimated $5 billion in 2017, as reported by IDG. With reports of major breaches surfacing with alarming frequency, boards and C-Level management are now looking to counsel to implement programs that help the corporation prepare for, quickly recover and reduce fallout from, inevitable cyber incidents. In-house counsel is facing growing responsibility to minimize damage to the corporate reputation, loss of key data, and legal and regulatory penalties. And many worry their organization is stuck in a game of catch-up.
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