By: Sayyedeh Parastoo Vakili
Cybersecurity is not only threatening individuals, but it has been targeting corporations and the government. With technology changing higher economy in an entrepreneurial and innovative ways, there are risks of cybersecurity threatening the delivering of legal services using technology. Hackers often have a goal in mind, to either access money and transfer it to different accounts, or steal valuable corporate secrets such as merger or acquisition business deals that would influence that stock market.
For instance, in a recently news report, Carole Gratzmuller, CEO of a medium sized firm called Etna Industrie in France was almost a victim of fraudulent wire transfer. In a so-and-so called “confidential transaction” addressing a purchase of a company by Etna Industrie, which was sent to Gratzmuller’s assistant as “proof” that the transaction was approved by the CEO and acceptable to wire transfer a big some of money as a result of that “acquisition”. These hackers use psychological manipulation of people into disclosing confidential information or performing certain conduct. However, there must be a system adapted by corporations and businesses to safeguard themselves against cybersecurity.
In PwC’s Global State of Information Security Survey 2016, it was demonstrated that in 2015, 38% more security incidents were detected than in 2014. While 22% of employees remain the most cited source of compromise, many organizations and businesses are investing in strategic safeguards to improve security and reduce risks. The more security corporations and businesses put in place, the more difficult it becomes for hackers to access their systems. Although account security and password management are the simplest methods, corporations must take additional steps to protect their network and computer systems from hackers. These additional steps include: investing in employee security-training programs, keeping anti-virus and anti-spyware software up to date, implementing policies with respect to handling sensitive information, and collaborating with the government on creating the most effective cybersecurity strategies.
Since corporations rely heavily on network infrastructure for their business operations, they must identify various sources of risk and put in place a high technological security system to protect their network from malicious hackers. Furthermore, enacting effective policies and governance allows corporations to safeguard their computer systems from any type of breach.
Bio: Sayyedeh Parastoo Vakili is a Staff Member of the Journal of High Technology Law. She is currently a 2L at Suffolk Law. She holds a B.S. in Psychology and Sociology, and a M.S. in Crime and Justice Studies (MSCJS) both from Suffolk University.