The 2019 LexisNexis Decoding Cybersecurity: Clause and Effect Roadshow which brought together a range of Australian legal and IT thought leaders to discuss their experiences and thoughts on cybersecurity and its role in the legal industry. On the back of the Roadshow, LexisNexis have released a report which is based on discussions and insights from the events along with results from The 2019 Decoding Cybersecurity: Clause and Effect Survey.
There were a number of fascinating insights detailed in the report and survey, but the ideals of human error and compliance are most prominent. This is because modern businesses are not expected to be immune to data breaches, but it is entirely unacceptable for them not to be prepared from an operational standpoint when the unfortunate occurs to their business or their clients.
Key survey data points:
- 86 per cent of survey respondents believe the industry needs to upskill in cybersecurity measures.
- 34% of survey respondents reported that their businesses engage in cyber-attack drills only once a year or less.
- 58 per cent of practitioners said their firm’s cybersecurity practice group billings increased by over 5 per cent (with 38 per cent of respondents saying that their billings increased up to 20 per cent) compared to the previous year.
- 60 per cent of practitioners say they are not confident in their knowledge of the Notifiable Data Breaches scheme.
