As my friends will tell you I am a
voracious reader -- especially when it comes to cyber and physical security,
supply chain security, critical infrastructure protection and industrial
controls systems (ICS) security. This past week I was catching up on my
"to be read" pile and found a fantastic article I'd like to post.
Please take a moment to check out this
web page -- Government Technology and Services Coalition
-- otherwise known as GTSC. From their website: "The Government
Technology & Services Coalition (GTSC) is a nonprofit 501 (c)(6),
non-partisan association of innovative, agile small and midsized company CEOs
that create, develop, and implement solutions for the Federal homeland and national
security sector."
Of course when I saw
the word "cyber" and the focus on Boards of Directors and Chief
Counsels I immediately wanted to read it...and it was worth the time.
Ok, what are the 10
issues they want Board members to recognize? Here they are in brief:
- The stakes to share value and the
bottom line are high.
- The hackers are two steps ahead of
you already.
- Cyber and data loss threats pose
merger risks.
- Lost or stolen intellectual
property or customer or employee information can turn a deal from sweet to
sour.
- There is a maze of state and
Federal data protection and data loss notification requirements to navigate.
- The failure to be fully informed
of and proactive against cybersecurity and data loss risks could lead to
litigation.
- If the breach doesn't get you, the
litigation will.
- There are Federal programs
available to help mitigate corporate liability through the SAFETY* act.
- Insurance coverage is available through
traditional or tailored policies.
- Outside counsel comes with the
benefit of attorney-client privilege.
Many thanks to Mr. Finch, et al, for
their insights. It was quite interesting
and validated my own opinion -- and I believe my friend Andy Bochman's
opinion -- that the Directors and Chief Counsels need to be attuned to cyber
security issues since these issues can -- and will -- affect their business.
Cheers!