Mitigating Cyber Risk: Strategies to Reduce Exposure

From the Experts

, Corporate Counsel

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Cybersecurity is now a top-ranked risk at the board level, and your company needs to be prepared to effectively and efficiently respond to a cyber event.

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    This is an excellent list that looks further around the corner than most firms can presently see. However, it should be expanded to include a law enforcement response--taking action to see the malefactors prosecuted, or at least pursued, for creating a tremendous amount of damage. Board members, in particular, are frustrated when management‘s response is "There‘s nothing we can do to get the guys who did this." Corporate counsel should, in advance, explore and determine what effective law enforcement resources are available to them (e.g., FBI, State Police, Sate Fusion Centers, and local law enforcement agencies), and build relationships in advance. For example, FBI Cybersquad Agents have significant discretion as to what cases they will take on or help with--establishing a relationship with FBI Cybersquad Agents in advance will make it much easier for them to decide to get engaged. Telling top management and your Board that the FBI is involved is much more satisfying to the listener than telling them "nothing can be done."

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