TECHNOLOGY
Firms must also establish a healthy security culture by explicitly practicing , communicating , and publicly modeling the right behavior . The culture should focus on open collaboration between business , IT , and security colleagues and applying a ‘ growth mindset ’ of continuous learning .
“ In the modern real estate and construction world there is a vast flow of data through technological systems and any complacency around protecting it could have serious consequences ”
SEATON GORDON LEGAL DIRECTOR , CLYDE & CO
Avoid complacency with data flows Clyde & Co Legal Director Seaton Gordon said when we think of data breaches caused by cyber-attacks , there is a tendency to focus on hackers obtaining credit card details or banking passwords and the direct and sometimes dramatic financial consequences .
“ But in the modern real estate and construction world there is a vast flow of data through technological systems and any complacency around protecting it could have serious consequences ,” he said .
“ Given how instrumental both commercial and personal data is to commercial operations and the sheer volume being held , there is both a business need and legal obligation ( further to contract or regulation ) to secure this data from cyber-attacks . Failure to enact measures to protect data could expose organisations to cyber-attacks – a scenario we have seen with a number of contractors in 2020 – or leave them ill-equipped to respond , potentially increasing the exposure to penalties , claims or worsening disruption to business operations .”
Against the backdrop of a year of digitalisation prompted by the COVID- 19 pandemic , it is crucial that businesses get on the front foot and assess cyber risks holistically , he added .
A siloed , modular analysis ( of data , IT risks , physical security , regulatory obligations , contractual exposure ,
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