The financial fallout from a cyber-security breach goes beyond the cost of data restoration and equipment upgrades, experts say. Companies that have experienced a data breach may be facing high legal fees, as well, according to a new Wall Street Journal report.
In fact, following a cyber-attack, companies that house a lot of sensitive data may be wise to “lawyer-up,” as they are susceptible to individual or class action suits asserting that the firm did not have adequate data security systems in place prior to the breach. For this reason, some experts recommend that a company have its law firm contract with a data security systems provider following a cyber-attack, rather than hiring the provider directly. In this way, the organization can protect details of the new security measures — and, by inference, details of the original breach — from being part of the discovery process during litigation by invoking client-attorney privilege, explains journalist Christopher Matthews. Here more in the video below.
Veteran Business Solutions specializes in information assurance, network defense, and network forensics services, as well as cyber-security staff augmentation. If your organization has experienced a data breach, or if you would like a comprehensive data security assessment to safeguard your firm against a cyber-attack, call our corporate headquarters at (703) 946-4922, or contact us online.
