There are some critical steps in the early stages of a cyber breach incident that all lawyers should know about. An understanding of what can be done as soon as a breach takes place can help to mitigate long tail regulatory and claims risk.
Richard Berkahn and Reece Corbett-Wilkins, from Clyde & Co’s Sydney office, will present on the subject at a CPD panel session hosted by the Law Society of NSW on 15 March 2019. According to Berkahn, mitigating cyber risk and what to do in the event of an incident can no longer be disregarded as an “IT issue”, especially in a changing regulatory environment.
“Cyber risk is becoming a reality that organisations can no longer afford to ignore. In an increasingly inter-connected and digital world, even the smallest incidents can have the biggest impact,” Mr Berkahn said.
“More and more frequently, in-house counsel are being called upon to provide strategic direction to all levels and functions of an organisation during a cyber crisis given the legal, reputational and commercial risks they pose,” he added.
Insurers and cyber insurance also play an important role in transferring some of the cost and risk associated with incidents, Mr Corbett-Wilkins suggested, so it was important that lawyers also work side by side with insurers during an incident response.
“Legal counsel play a vital function throughout the incident, including managing internal stakeholders, as well as co-ordinating a team of external consultants such as privacy counsel, IT security and forensic, PR, and communications teams, to ensure that the organisation responds quickly and thoroughly,” he said.
Along with the Clyde & Co lawyers, the session on 15 March will feature presentations from Principal of Data Synergies Peter Leonard, LawCover’s Jen McMillan, Klein & Co managing director Nick Klein and the Law Society of NSW Chief Trust Account Investigator Jim Sofiak.
The panel experts will discuss relevant topics relating to cyber breach incidents. The session will focus on educating lawyers on how to navigate cyber incidents from start to finish, as well as reflect on trends in cyber incident response, the vulnerabilities to security systems, and the legal, business and operational issues impacting an organisation in the wake of a cyber incident.
The Law Society of NSW will be running the‘Is your organisation ready for a cyber incident? Practical lessons on preparing and managing data breaches, vulnerabilities and confidential information’ breakfast session (1.5CPDunits) from 8.30-10.00am on Friday 15March 2019.
For more information and to register to attend see https://bit.ly/2Th11Yd