Corporates Fret Over Data Privacy

Data Privacy: For the first time US legal chiefs are increasingly fretting over cyber risks, according to a recent survey. 

Legal chiefs are increasingly being tasked with maintaining their organisations’ data protection and cyber-security in the wake of high profile breaches and growing privacy legislation, according to an Association of Corporate Counsel report released Tuesday.

The Association of Corporate Counsel in partnership with legal tech company Exterro, surveyed nearly 950 chief legal officers for its annual report. 

For the first time Chief Legal Councils or CLO’s ranked cybersecurity as their most important concern, trailed by compliance and data privacy. 

Over 50%, according to a report by the news agency Reuters, cited data privacy a one of the biggest challenges facing their firms.

Respondents included CLOs based in several countries, though over 70% were in the United States. Their industries included manufacturing, healthcare, finance and others, and organization size varied. 

The survey took place in October, September and November last year, 2020.

Serviceteam IT Director, Seb Jesson Ward said: ‘This is the sign of things to come. If a firm is to manage its risk it must have well established and robust privacy policies in place, which are underpinned by cast iron physical data infrastructure.’