Frances Floriano Goins, Co-Chair of Ulmer’s Data Privacy and Information Security Practice Group, contributed analysis to a recent Crain’s Cleveland Business article focusing on how, despite the growing reach and impact of cybercrime, many businesses continue to ignore the risks.
Despite cybercrime’s pervasiveness, many businesses ignore risks
From Crain’s Cleveland Business
In many cases, company execs realize they could be targets, but just aren’t doing anything about it, convinced those worst-case scenarios — like suffering a costly hack that causes a major client to flee — aren’t going to hit them.Or they just don’t know how to go about it.
“Although cyber risk has been tagged uniformly as a top-of-mind issue for boards of directors in recent surveys, many directors do not know how to approach the problem, and many manufacturing companies think cyber risk does not apply to them because they do not handle consumer data,” said Frances Goins, co-chair of the data privacy and information security practice at Ulmer & Berne LLP, who works with some of Northeast Ohio’s largest companies, particularly manufacturers.
She pointed out how the high-profile Target breach involved data that was actually taken through a breach of an HVAC vendor of the retail giant.
“Everyone is a target on this stuff,” she said. “You’re pulling the blanket over your head if you think you’re not.”
Indeed, the business world recognizes there’s an issue here.
But it’s not doing a great job of addressing it.
For the full article, please click here. Please note that a subscription to the publication may be needed to access the full content.