A discussion for C-level business executives and board members of digital information law issues of social media law, data security and data breach law, and trade secrets and corporate espionage issues.
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Combating Cyber Fraud, Data Breaches & Corporate Espionage
Shawn Tuma, PartnerBrittonTumaShops at Legacy, Plano, [email protected]@shawnetumablog: shawnetuma.comweb: brittontuma.com
Shawn Tuma is a lawyer whose practice is focused on cutting-edge cyber and information law and includes issues like helping businesses defend their data and intellectual property against computer fraud, data breaches, hacking, corporate espionage, and insider theft. Shawn stays very active in the cyber and information law communities:
Best Lawyers in Dallas 2014, D Magazine (Digital Information Law)
Chair, Collin County Bar Association Civil Litigation & Appellate Section
College of the State Bar of Texas
Privacy and Data Security Committee of the State Bar of Texas
Computer and Technology, Litigation, Intellectual Property Law, and Business Sections of the State Bar of Texas
Information Security Committee of the Section on Science & Technology Committee of the American Bar Association
Social Media Committee of the American Bar Association
North Texas Crime Commission, Cybercrime Committee
International Association of Privacy Professionals
The information provided is for educational purposes only, does not constitute legal advice, and no attorney-client relationship is created by this presentation.
“old crimes committed in new ways … using computers and the Internet to make the task[s] easier”
computer hacking, data theft, breaches of data security, corporate espionage, privacy breaches, computer worms, Trojan horses, viruses, malware, denial of service attacks
mouse and keyboard = modern fraudster tools of choice
Story Time• you were CEO of a world-wide company• breach impacting 110 million customers• $61 million in expenses alone• 10% discount to all shoppers• $5 million investment in cybersecurity coalition• offer “free” identity theft and credit monitoring to all affected
customers• Net earnings down 34.28%• Earnings per share down 44.60%• Non-cash losses up 487.71%• US sales down 6.60%• Lawsuits, possible enforcement actions, who knows?• and then you learn …
Allocating risk and mitigating risk by contract• Allocating risk
• designate duties & responsibilitiesA party bears the risk when the agreement allocates the risk to that party. TEX. JUR. 3d Contracts § 123
• indemnify“An undertaking against loss or damage amounts to a guaranty of reimbursement on a payment by the indemnitee. With respect to a promise to indemnify against damages, a right to bring suit does not accrue until the indemnitee has suffered damage or injury by being compelled to pay the judgment or debt.” 14 TEX. JUR. 3d Contribution § 24
• Mitigating risk• require mandatory policies, procedures, and security
Where the person accessing Obtains information Commits a fraud Obtains something of value Transmits damaging information Causes damage Traffics in passwords Commits extortion