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Cyber risks

  • Switzerland

    12-10-2017

     

    Detecting the risks of and reactions to cyber attacks

     

    Data loss and cyber-attacks are among the business critical operational risks in the digital world. Large and small companies are affected, and cyber-assaults can already be endangering medium-sized companies and the continuity of their operations.

    In the broader sense, the subject of cyber-risks is the concept of "white collar crime", comprising all criminal acts that directly or indirectly damage the company and violate the rules of trust and integrity in economic life.

    In the case of suspected non-compliance and economic crimes such as cyber-attacks, proper action is indispensable. Corporate responsibility, considering the subject of corporate governance, has to reassess the existing crisis management with regard to the risks of cyber-attacks, non-compliance and economic crimes. The precautionary measures including the insurability of the risks do play a major role.

    Eversheds-Sutherland is dealing with this issue by way of preventive measures (such as a thorough examination of the contracts with the business partners and insurance coverings) and the proper reaction in the event of an emergency. The focus is on the responsibility of decision-makers as well as on specific procedures in case of an incident.

    For more information, please read the article of Barbara Klett and Sonja Stirnimann (German):  Cyber-Crime: Verantwortung und Vorgehen im Ernstfall, Zeitschrift Sicherheit & Recht 2/2017.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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