As internet becomes a powerful tool in modern business, destructive risks may cause you uneasy sleep. Veta T. Richardson shares the key recent findings of her in-house association
There have been several recent instances of data breaches at multinational corporations affecting millions of consumers and stakeholders. In fact, one-third of in-house lawyers have experienced a corporate data breach and the most common reason cited was internal factors – employee error or an inside job, according to the ACC Foundation: The State of Cybersecurity Report released in December. In-house counsel in the Asia-Pacific region were more likely than those elsewhere to have weathered a data breach at their current company.
Around the world, top lawyers at corporations – general counsel (GCs) or chief legal officers (CLOs) – identify data protection as one of the top issues keeping them up at night. The report, which took the pulse of more than 1,000 corporate lawyers at 887 organizations in 30 countries, indicated that 23% of Asia-Pacific in-house lawyers have experienced a data breach at their current company.
Veta T. Richardson is president and CEO of the Association of Corporate Counsel (ACC), a global bar association representing more than 40,000 in-house counsel employed by over 10,000 organizations in 85 countries