In the July issue of the LexisNexis Inhouse Counsel newsletter associate Daniel Coster examines the legal obligations for Australian businesses to disclose cyber security breaches, as well as the importance of taking a proactive approach to cyber security generally and when responding to a breach of personal information in particular.
The commercial internet is a relatively recent development. With the proliferation of faster and cheaper technologies, we are now heavily dependent on internet-connected devices for both business and pleasure. With new technologies come new risks, and even large multinational businesses have fallen victim to cyber attacks and lost valuable commercial information.
A breach of digital security, whether or not private data is compromised, can result in reputational damage and loss of business. Businesses may seek to minimise such loss by not publicly disclosing cyber attacks or downplaying the extent of any breach.
Click the link Inhouse Counsel 2017. Vol 21 No 5 404 error by Daniel Coster pg 105 – 108 to read the full article, courtesy of LexisNexis.
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