One in three in-house counsel has experienced a data breach, according to the latest State of Cybersecurity Report by the Association of Corporate Counsel (ACC).
The report, which analyses data from more than 617 corporate counsels in 33 countries, states that more than 60% of companies are allocating more resources to cybersecurity in 2018. On average, respondents say that about 5% of the law department budget is allocated to cybersecurity.
The GDPR (General Data Protection Regulation), which comes into effect this week, is of most concern to EMEA (Europe, Middle East and Asia) companies. Veta T. Richardson, ACC president and CEO, said: ‘With the rising number of high-profile data breaches, it’s no shock to see protection of corporate data become the fastest rising area of concern for legal and business executives.’
