Americans Should Expect Many More CyberSecurity Failures; Recent Yahoo Email Breach Is Just the Tip of the Iceberg
Companies of all sizes do not properly protect consumers and shareholders against data privacy and cyber-terrorism threats
MORRISTOWN, N.J., Oct. 6, 2016 /PRNewswire/ -- Most American companies are not taking adequate steps to protect customer data from hackers, or to prevent IT system intrusions by foreign and domestic cyber-terrorists. According to two respected cybersecurity attorneys, Diane D. Reynolds and Leonardo M. Tamburello, the recent announcement by Yahoo that 500 million customer email accounts had been hacked in 2014 represents the tip of the iceberg, in terms of the number of U.S. companies of all sizes that are currently at risk for data theft and system sabotage.
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Ms. Reynolds and Mr. Tamburello – attorneys with McElroy, Deutsch, Mulvaney & Carpenter, LLP - said there are several reasons why companies are at risk, notably:
- Many corporate CEOs are not technology experts, and neither understand, nor properly value their company's technology function;
- Even when a technology expert is a member of the senior management team, there is often inadequate allocation of money and resources to properly manage the technology function;
- Companies often view cybersecurity as a "once and done" corporate task that's accomplished quickly, cheaply and then forgotten; while the levels of sophistication and determination by hackers and cyber-terrorists continue to increase;
- Many of the technology solutions that companies apply to protect their data and systems are either incompatible with their IT infrastructure, or prove to be ineffective when attacked; and
- Mid-sized and small companies mistakenly assume they are unlikely targets for data theft or sabotage, and take inadequate measures to protect themselves.
Ms. Reynolds and Mr. Tamburello – who both have deep experience in cybersecurity, and have earned the privacy industry's highest professional certifications – noted that consumers and shareholders should demand significantly higher levels of cybersecurity protection, and must also hold corporations accountable for maintain the integrity of the information they collect, store, transfer and use. Ms. Reynolds said, "Companies can no longer claim that they are helpless victims of cyber crime, if they are not taking adequate measures to protect customer privacy and corporate assets. And the bar that defines 'adequate measures' continues to go up."
Diane D. Reynolds and Leonardo M. Tamburello, both serve as Of Counsel and co-head the Cybersecurity, Data Protection and Privacy Group at Morristown, New Jersey-based McElroy, Deutsch, Mulvaney & Carpenter, LLP. Both attorneys have extensive experience in matters involving data privacy, security and risk management, and hold the Certified Information Privacy Professional/United States ("CIPP/US") designation. Ms. Reynolds also holds Certified Information Privacy Manager ("CIPM") credentials from the International Association of Privacy Professionals (IAPP) and ANSI/ISO.
About McElroy, Deutsch, Mulvaney & Carpenter, LLP
McElroy, Deutsch, Mulvaney & Carpenter, LLP is a full service law firm that offers a diverse range of practice areas including litigation, construction, labor and employment, health care, cybersecurity, insurance, fidelity and surety, bankruptcy, real estate, corporate transactions, hospitality, franchise, tax, environmental, banking, immigration, white-collar defense and corporate compliance. Visit www.mdmc-law.com for more information.
Contact: Nicole Alexander, Esq.
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McElroy, Deutsch, Mulvaney & Carpenter, LLP
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SOURCE McElroy, Deutsch, Mulvaney & Carpenter, LLP
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