- Cyber Security is Everybody¿s Business
- April 10, 2017 | Author: Peter R. Murphy
- Law Firm: Shibley Righton LLP - Toronto Office
- Business leaders may fail to uphold their legal responsibilities if they don't take reasonable steps to prepare their companies for cyberattacks and information security breaches, says Toronto technology and business lawyer Peter Murphy, who has acted as counsel on some of Canada’s most notorious privacy breaches.
The impact can be as debilitating to an organization as a major product liability lawsuit, he tells AdvocateDaily.com.
Given the importance of data in business today, "we have reached the point where the failure to take reasonable steps to protect information in the possession or control of the organization may be a breach of the fiduciary duties owed by senior officers and board of directors of the organization," Murphy points out.
He advises firms to craft and implement policies and procedures around information protection and security incident response, as the risk of a data breach is “huge.”