Information is one of the most valuable assets of a business and its proper management is key to ensuring business continuity and gaining competitive advantage. Cyber security relates to how organisations implement strategies to deter and minimise the impact of incidents which put their information and data at risk.
Surveys show that companies in Australia are affected by more cyber security incidents than any other country in the Asia Pacific region. Aside from financial costs including loss of revenue, drop in share price and remediation costs, other potential consequences include loss of trade secrets and other confidential information, reputational and brand damage, operational and infrastructure impact, loss of consumer and stakeholder confidence, legal and regulatory implications, staff downtime, and opportunity cost.
Piper Alderman has expertise in advising organisations on legal aspects of information security management, data protection and privacy compliance. We work with security experts to assist organisations to implement risk management frameworks and policies security, the mandatory data breach notification obligations under the Privacy Act and the GDPR, and practical internal measures and steps to take to prepare and minimise risks of cyber security attacks.