Cyber security stepping up in priority

Those in general counsel (GC) positions are engaging in more and more board level discussions revolving around cyber security, illustrating a move towards efficient risk management, found PwC and news  site Legal Business.

Over 800 IT professionals, legal bosses, owners, and senior corporate managers took part in a study concerning opinions of cyber security. Close to half of respondents (46 per cent) said they had offered the board advice on data and cyber security issues within the last 12 months. More than a third (35 per cent) said this occurred every quarter.

GCs interviewed said online security has been given an increased amount of attention, and explained that they would be more active in managing any issues regarding cyber risks. However, with just 21 per cent saying that serious security incidents can be dealt with by third-party legal advisors, law firms are being expected to do more.

RSA’s group GC said:

“What we care about is what will be the interpretation of the rules and law firms can be very slow at doing that.

“I would suggest that lawyers get on the front foot with offering practical advice rather than repeating what the rules state because we can read those ourselves.”

Boardroom discussions are a positive sign that cyber security is being taken more seriously. Business owners need to take note and re-evaluate their own IT security recruitment strategies, gaining the in-house skills necessary to deal with any security issues that may come up.