Akin Gump Lawyers Pen Article on Reducing Liability Risk by Taking Proper Cyber Protection Measures
Risk Management has published “5 Cybersecurity Mistakes That Lead to Regulatory & Legal Action,” an article written by Akin Gump litigation partner Michelle Reed and intellectual property associate Jay Tatachar regarding the importance of companies taking proper cybersecurity and data protection measures to reduce their liability in the event of a data breach.
In the article, the authors present advice to the five biggest issues that could lead to an investigation, enforcement action or class-action lawsuit, including avoid collecting unneeded personal information, require authentication and restrict access, use industry-accepted methods to securely store and transmit sensitive information and develop a comprehensive incident response plan.
The authors conclude by noting that, in the event of a data breach, it’s important to carefully weigh the nature and scope of your notice. They added, “An important part of any incident response plan is the speed and efficacy with which the company communicates the scope of the breach to those who are potentially affected… The decision of what to include in the notification can have serious ramifications. Indeed, a company’s notice disclosure can actually work against it in litigation.”
To read the full article, please click here.