Of the multitude of practice areas in which The Cavanagh Law Firm concentrates, none could be more relevant in today’s increasingly technology-driven era than Cybersecurity and Privacy. A recent study by IBM revealed some rather disturbing statistics: globally, the average cost of a data breach is up 6.4 percent over 2017, to just south of $4 million, while the cost for each stolen or lost record which contains confidential or sensitive information averages $148, an almost five-percent increase.
In the wake of recent headlines, these statistics should cause you to take pause and reconsider your company’s cyber strategy. In October, Yahoo! agreed to an $85 million settlement to compensate the roughly 200 million people affected by the firm’s 2013-2014 data breach, in which scammers accessed emails and other personal information from as many as 3 billion accounts and didn’t reveal the hack until a couple of years later. This past spring, the security firm Gemini Advisory disclosed another astounding hack: a consortium of bad guys was offering five million stolen credit and debit cards for sale. They had compromised luxury department stores Saks Fifth Avenue and Lord & Taylor.
If your firm were to fall victim to such cybercrime, would you know how to respond? Immediately contacting us would be a wise move on your part. Cavanagh’s Cybersecurity and Privacy practice group has the experience and expertise you’d need to handle such a complicated situation. Our interdisciplinary team handles a wide range of complex matters including data breach response, planning, cyber insurance coverage, regulatory interaction, and compliance and litigation. Cavanagh’s team includes a former software developer and Chair of the Arizona State Bar Technology Committee, who can assist on a 24/7 basis. Our team also serves as a breach coach and handles complex state and federal data security and privacy matters including:
- The Health Insurance Portability and Accountability Act of 1996 (HIPAA) and Health
- Information Technology for Economic and Clinical Health Act (HITECH)
- Computer Fraud & Abuse Act (CFAA)
- Fair Credit Reporting Act (FCRA)
- Fair and Accurate Credit Transactions Act of 2003 (FACTA)
- Telephone Consumer Protection Act (TCPA)
- Family Educational Rights and Privacy Act (FERPA)
- Children’s Online Privacy Protection Act (COPPA)
- State-specific breach notification requirements
When a cyber incident occurs, it’s too late to get up-to-speed on technology concepts. That’s why we also provide essential services such as developing and reviewing data security/privacy policies and procedures, serving as outside privacy officer, drafting/reviewing partner and vendor contracts, privacy disclosures, website and social media terms, BYOD policies, employee and executive level training, tabletop exercises, risk assessments, gap analysis, compliance recommendations and complex cyber insurance matters.
Cavanagh’s Cybersecurity and Privacy attorneys are also adroit in interacting with regulators, forensic investigators, cyber insurance brokers and carriers and law enforcement, as well as establishing call center support, credit monitoring, identity theft recovery, breach notifications, and related data breach services.
We hope you never need to utilize our services, but if you do, rest assured that our Cybersecurity and Privacy attorneys are poised to help guide you through the immense challenges a cybersecurity attack would pose.