Beyond IT: why lawyers are the key to cybersecurity

  • Date: 26-Feb-2021
  • Source: World Economic Forum
  • Sector:Technology
  • Country:Middle East
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Beyond IT: why lawyers are the key to cybersecurity

Modern cyber risk is so profound that it sprawls well outside the information security team's purview including governance, privacy and corporate culture.

Recent high-profile breaches show how costly cyber breaches can be to brand and the balance sheets of large corporations.

General counsels are vital to help business leaders set governance that balances protecting information with ensuring privacy, productivity and regulatory compliance.



The modern general counsel is a critical cyber risk ally for boards

The impact of cyber risk can devastate businesses. As we see frequently, cybersecurity breaches result in the loss of critical data such as intellectual property and personal information, and result in massive fines and liability.

The responsibility for managing and mitigating cybersecurity risk has historically rested primarily with the information security team, often under the chief information and security office (CISO). However, the fiduciary "buck“ actually stops with the board of directors, not just CISOs and CEOs.

Fortunately, the board has allies and advisors. As the risk has become more profound, so has the breadth of the security landscape with ripple effects across the modern C-suite. The role of general counsel has become vital in guiding organizations through the minefield of managing cyber risk, from