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10 Int'l. In-House Counsel J. 1 (2016-2017)
Data Breach: What YOU Can Do about It?

handle is hein.journals/iihcj10 and id is 578 raw text is: International In-house Counsel Journal Vol. 10, No. 40, Summer 2017, 1 Data Breach: What YOU can do about it? MARCELO SOUCCAR CEO Juritis USA and General Counsel Juritis Group, Juritis USA LLC TOTVS Official Partner, USA In May 2017 the cyber world was under attack. The WannaCry cryptoworm spread quickly, preventing or limiting users from accessing their systems. This was the largest ransomware attack targeting commercial applications up until that point. Bloomberg estimated that this single malware could cost over $2,5 billion for insurers and the overall cost could reach $4 Billion dollars. In June 2017, Petya, another ransomware attack caused serious business disruption at large corporations, including Siemens, Mondelez, and Maersk, among others. These attacks are just the tip of the iceberg in the money-making scheme designed by hackers, and do not include government sponsored attacks, which may target government structures, but also private strategic economic businesses, like utilities, energy, finance and even law enforcement and emergency services, which constitutes an actual cyber war. Although the press has published names of large enterprise businesses who are at risk, there is no small under the radar operation that is safe from attacks. In fact, most of the funds paid to hackers are from small and medium size businesses that lack the technology and knowledge to protect their data and cannot afford to stay locked out of their computer systems. In more dangerous situations, hackers have demanded bitcoins in exchange for not publishing sensitive company information on the web. Most of the famous Data Breach cases surely involve at least one hacker. However, most of the time companies are also under a constant threat from within, as the majority of data breaches come from the internal people who already have access to the data and are careless on providing access and passwords to outsiders, leaving the door open to intruders. Users sometimes leave their notebooks or computers logged onto the network hibernating during the night after downloading some new APP from the internet or allow an update from an unreliable source and right there the opportunity to enter is open. Not always, the path for a Data Breach requires a hacker to break firewalls and complex security passwords and tokens, we must also focus on securing the peopleware. Receiving e-mails with strange links from someone you know is a typical form of attack, once you download the virus is difficult even for antivirus to deal with the problem. Let's focus on the private ransomware attacks that demand monetary compensation: the lack of specific cybersecurity legislation has been questioned in the US, given the international characteristics of the hacking business, and there is a global effort to improve legislation and law enforcement. Nevertheless, the pace of technology is so fast, and laws need time to mature. Whenever there is a regulation to protect from an attack, the perpetrators will be using a different set of weapons and techniques. The famous case about the Panama papers depicted a law office that was taken with their guard down and lost all confidential information. We may infer that the impact on the ISSN 1754-0607 print/ISSN 1754-0607 online International In-house Counsel Journal

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