As the recent Target and Neiman Marcus data breaches made clear, cyber security is one of the top threats to business today. These threats can be devastating to companies - damaging customer confidence, the company brand, and the bottom line by increasing costs through remediation costs, lost revenues and customers, litigation, and fines. Governments and customers are now holding businesses accountable for inadequate protection of customer data. Cyber security concerns are now part of doing business, and general counsel and executives should be ready to guide their companies through these complex issues.
Prevention is the best way to minimize cyber-security liability. These steps can minimize the cost and likelihood of security breaches. [More ...]
If a data breach occurs, businesses must immediately determine whether they have notification obligations under federal or state law. Congress has yet to enact comprehensive federal law governing notification in the private sector, so businesses must conduct a state- and industry-specific analysis. [More ...]
Businesses should be ready for litigation if a data breach occurs. To see a list of potential claims by private parties and the government, click here.
A business's cyber-security obligations are too complex and industry-specific to outline in a short e-blast. Regardless, it is critical for businesses to be prepared. We recommend that businesses, at a minimum, review, update, and implement their cyber security policies, train executives, and promptly investigate potential security breaches. Polsinelli's litigation team and its dedicated cyber security attorneys are ready to help clients lower their cyber-security risks, analyze their obligations, and minimize litigation exposure should a breach occur.
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