Cyber Security Legal Overview
IN-HOUSE LAWYERS
Specialist’s legal advice on cyber and data security matters is important in reducing the cyber risks of your organisation. Having in-house legal counsels involved from the start of implementation of mechanisms designed to minimize the adverse effects of cyber security threats is a great solution for every company under cyber security threat.
The general responsibility of an in-house lawyer is to ensure regulatory compliance. The collection, processing, and storage of (personal) information is subject to an increasingly complex legal and regulatory framework around the world. Monetary penalties for violating laws are harsh and damage to your organisation’s reputation can be irreparable. To ensure maximum compliance a legal team should be involved in the process of designing policies, procedures and processes for the assessment of security in the supplier base and also in the drafting and review of security and contractual framework policies. The right team of technically skilled and legally experienced professionals can help you ensure that government cybersecurity standards and mandates are industry-led and technology neutral.
Managing and averting cyber and information security risks requires team cooperation between different specialists, including security and management team members. In cases where cyber security risks occur, technical measures alone will not suffice to prevent all the damages to your company. Your company can benefit greatly from an experienced in-house legal team, which knows how to work with other departments of your company and can help draft an effective incident response plan from the first stage onwards so that your organisation can avoid or at least subsequently minimize damages.
A team of skilful and experienced lawyers, technicians, and risk management consultants can help the board of your company to understand the company's cyber security vulnerabilities and what measures can be taken to mitigate them, so that they can effectively safeguard the company’s stock price and assets. While prevention of cyber risks occurring is key, your business can benefit greatly from a well-designed cybercrime insurance. The in-house legal team can make sure that the board of your organisation understands which risks may be covered, and where gaps or challenges may remain.
EXTERNAL LEGAL SERVICES
Acquiring help from an external cyber and information security legal service provider can help your business efficiently combat cyber security threats. An experienced and well organised external legal team is able to work in coordination with crisis management firms, internal security departments, in-house legal teams, executives, and law enforcement agencies to provide a rapid-response mitigation service to neutralise cyber security risks of your company.
Managing and preventing cyber risks is a team effort, where mere technical skills are not sufficient. Legal experts can advise your company on risk assessments and audits, compliance reviews, developing and testing compliance policies and procedures, and reputational risk management programmes. They can help you establish compliance with laws and regulations and potential exposures by providing your company with a gap analysis of rules and regulations across different jurisdictions. Furthermore, they can conduct transactional and institutional due diligence reviews (including M&A transactions), in particular in relation to data protection compliance and other issues related to cyber security and information protection.
After a technical team has assessed your organisation’s network/data security the legal service can help you obtain the right insurance coverage prior to a cyber attack. In the aftermath of a cyber attack, an external cybersecurity and legal team can prevent and deter attacks, pursue perpetrators, respond to problems, and help you mitigate risk and loss through insurance.
External legal service can help your organization to understand the risks you face and develop risk management strategies, including implementation of the Cybersecurity Framework and other planning tools to minimize possible cyber risks. A pre-determined incident response plan (e.g. tabletop exercises, penetration testing, and war gaming) coupled with expert legal advice during and in the aftermath of cyber incidents on how to navigate regulatory issues, public relations, and improving cybersecurity programs, will reduce the damages done your company.
