Cyber attacks: Current developments and lessons learned
Thursday 10 June 2021, 11am-12pm (CET)
28 May 2021
The number of cyber attacks is increasing massively, while at the same time the damage caused by an attack is immensely expensive and the recovery is highly complex. Find out what we as a cyber security team have learned from the latest attacks and join the discussion!
The recent case of Colonial Pipeline, the largest pipeline system for refined oil products in the US, showed how devastating the effects of cyber attacks can be. A shutdown of the pipeline was necessary, with global repercussions for the petrol and crude oil markets. The US government issued emergency legislation in the affected states, including Florida, Texas, New York, Washington and Pennsylvania. The European Medicines Agency and the Irish Health Service were also affected, with similar reports from Axa, Toshiba and Brenntag.
In particular, so-called ransomware attacks, in which the attackers demand a ransom after data has been encrypted or directly tapped, have gained in frequency and clout. Investigators assume that a veritable market is emerging in customised ransomware programs and captured data. Due to this increasing complexity, companies are required to review and continuously adapt their defense and response options.
It is important to understand cyber attacks not only as an IT problem, but also a communication issue that quickly gains economic and legal dimensions - claims for damages, liability issues and reporting obligations are still too often underestimated. We will provide an overview of current developments and what they mean for your company.
Experts from our Tech Group - Dr Thomas Voland and Dr Christian Vogel will classify the current developments, share current experience from their consultancy and look forward to your questions in the subsequent discussion.
To register your attendance, please send an email to Veranstaltungen@cliffordchance.com