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Thank you for posting Ted Dziekanowski. Will the failure to meet cyber regulatory and compliance requirements act as a self fulfilling prophecy or ‘shark bait’? As regulation sets the compliance bars that can be tested in court civil and criminal convictions increase.
Legal and compliance risk is an issue for cyber. Class actions are on the rise as customers and shareholders ask appropriate questions of boards, over the protection of their data, the organisations data and the protection of shareholder value. Questions that regulators have been asking and addressing through regulation and enforcement programs.
Programs that in turn increase the focus of civil claims against organisations, for their failure to meet regulatory requirements and boards are being asked questions about their expertise, and that of their firms in managing cyber. Questions and answers that will be used in court.
The painful truth is that the sharks are circling as they smell blood, blood that has many $s attached to it and has come from self inflicted wounds. Cyber regulation drives compliance ‘Left of Bang’ requiring organisations to bring in cybersecurity expertise to help advise on cybersecurity risk management, governance and incident reporting. To implement the appropriate frameworks to manage residual risk, rather than tech solutions to partially improve controls.
#cybersecurity #cyberriskmanagement #cyberregulation #theaugustagroup #cyberlaw
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