With all the talk about cybersecurity in boardrooms and in the media, it’s easy to forget that many companies have only recently become truly aware of the nature and scope of their cybersecurity challenges. And as government regulators and industry organizations work to create standards that will help companies understand how to shield themselves from cyberthreats and respond to attacks when they do happen, leaders at those businesses are watching carefully.
A new report from Mayer Brown, “Perspectives on Cybersecurity and Its Legal Implications,” takes the pulse of executives and in-house counsel on the state of cybersecurity. The data in the report, which was collected between November 2014 and February 2015 from companies in 15 industry sectors—many from financial and professional services—shows that there’s a limit to what businesses believe will be accomplished in the next few years with regard to standardization. “These numbers really reflect business expectations about what’s realistically achievable in Washington,” Archis Parasharami, a litigation partner at Mayer Brown, told CorpCounsel.com.
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