Cybersecurity law regulates the global digital space, protecting against cybercrime, data breaches, and cyber espionage.
Cyber-crime law, cybersecurity law or cyber law comprises a number of directives that safeguard information technology (IT) with the purpose of forcing organisations to protect their information and systems from cyberattacks using various measures and methods.
Definition and Key Concepts of Cyber Law
Cyber laws reduce or prevent damage from online criminal activities by protecting privacy, information access, intellectual property (IP), communications and freedom of speech related to the use of websites, cell or mobile phones, email, computers, the internet, software, and hardware, such as data storage devices.
Like everything in the digital sphere, cyber law is rapidly evolving. In many territories around the world, especially in the United States, cyber law incorporates a rather random and sometimes mis-matched set of doctrines. It includes a mixture of ancient laws accompanied by modern dictates which are implemented through criminal prosecutions, contracts, regulatory enforcement actions, civil litigation between private parties and executive orders in the United States. There are also state and federal elements to consider when looking at cyber law in America.
What is the difference between cybersecurity law and cybercrime law?
The cyber law definition states that cybersecurity law comprises a number of directives that safeguard information technology while forcing organisations to protect their information and systems from cyberattacks using a number of methods. On the other hand, cybercrime laws are created for the offences and penalties for cybercrimes. These laws include crimes that are directed at data, computers, or information communications technologies (ICTs), and crimes committed by people using ICT or computers.
Why Cybersecurity Law Matters
Cybercrime and information security present a whole host of challenges for organisations of any size. A data breach or cyber-attack can cause major disruption, financial costs, and reputational damage.
Cybersecurity law matters because it governs cyberspace and is the governing body of the internet, be it for individuals, organisations, or government entities. Cybercrime, intellectual property, electronic commerce, data privacy, and data protection are just some of the areas covered by cybersecurity law.
The Impact of Cybersecurity Law on Business
Cybersecurity law can have a profound impact on businesses. Not only can cyber laws help guide organisations on the correct rules and regulations to follow, but also help protect them at the same time.
New cybersecurity guidelines stemming from recent changes in the law, namely the Strengthening American Cybersecurity Act, will force organisations to report any issues they encounter in relation to hacking, data breaches and/or ransomware payments. This new cyber law aims to make both the private and public sectors better defended online. Similar laws are cropping up right around the world.
Navigating the Legal Landscape of Cybersecurity
In order to navigate the legal landscape of cybersecurity in business, organisations must implement robust cybersecurity measures to protect their systems and sensitive information. Below are some recommended best practices to minimise the risk of data breaches:
- Conduct Regular Cybersecurity Audits
Security audits are carried out by governing bodies who set out a predefined set of standards with which an organisation is expected to comply. Being in compliance with industry rules and regulations is important to secure reputation and position in the marketplace.
- Protect Sensitive Information
Implementing cybersecurity measures like encryption can help protect sensitive information from cybercriminals.
- Be Prepared for an Incident
Ensuring your business has an incident response plan in place can help organisations of any size respond to a breach in super quick time and reduce the amount of damage caused.
- Train Employees
Organisations must educate their employees so that they not only understand the threat of cyberattacks, but also what dangers lurk beneath home and personal devices. An effective cybersecurity program requires full visibility into your company’s cyber ecosystem, which includes both on-site and at-home networks.
- Monitor Third-Party Vendors
Monitoring your third-party vendors is a key element of cybersecurity. RiskXchange Vendor Risk Management Solution enables organisations to effectively manage, monitor performance and mitigate risk across their supplier networks.
Key Elements of Cybersecurity Law
The key elements of cybersecurity law force organisations to protect their information and systems from cyberattacks using numerous measures. Let’s take a closer look:
Data Privacy
Data privacy determines when, how, and to what extent private information is shared with or communicated to others. This private information can be someone’s name, location, contact information, real-world or online behaviour.
Data Breach Notification
In the case of a data breach, the controller must report and highlight the breach and within a 72-hour timeframe.
Cybercrime
Cybercrime law provides rules of conduct and standards of behaviour for the use of the internet, computers, and related digital technologies, and the actions of the public, government, and private organisations.
Cybersecurity Compliance Management
Cybersecurity compliance management is a key process to ensure all workflow, internal policies and IT initiatives align with specific industry regulations. Organisations will also benefit from having to certify their ICT products, processes, and services.
What are the consequences of non-compliance with cybersecurity laws?
Non-compliance with cybersecurity laws could see organisations face fines and loss of revenue. It could tarnish their brand or reputation, and they could face lawsuits and litigation. Rules and regulations also require organisations to maintain certain baseline levels of cybersecurity which must be met to keep on the right side of the law.
Intellectual Property
Intellectual property includes a number of properties that encapsulate intangible creations of the human intellect. There are many different types of intellectual property, and some countries recognise more than others. The most common are copyrights, trademarks, patents, and trade secrets.
Cybersecurity Standards
Cybersecurity standards are a set of best practices or guidelines that organisations can use to improve their cybersecurity posture. Organisations can use the guidelines to protect their business against threats and improve cybersecurity measures.
International Cooperation
International cooperation is key to dealing with various threats, from ransomware attacks to electronic espionage on critical infrastructure. Information sharing between governments and cybersecurity experts reduces the threat and prepares organisations for potential attacks.
How Cybersecurity Law Shapes National Security
Cybersecurity law sets out rules and guidelines for securing cyberspace and helps shape national security now that we’re in a digital world. Coordination between organisations, public authorities, the private sector, government and even people help to build a framework to follow. Approved cybersecurity frameworks should be conducted alongside domestic and international laws to shape national security efforts. The guiding principles of cybersecurity are national leadership alongside the above-mentioned collaborative efforts.
How does cybersecurity law address emerging technologies like artificial intelligence?
AI-driven and emerging technologies must keep pace with the latest rules, regulations and legal risk associated with them otherwise it will be almost impossible to effectively prevent, detect, respond to, and recover from an attack or intrusion.
How RiskXchange Can Help You
RiskXchange is the only platform that provides a complete 360-degree view of your attack surface, including that of your vendors. It will continuously monitor your complete attack surface, highlight any risk, and enable you to fix any issues before the attacker discovers them.
Our integrated suite of cybersecurity products and services produce data-driven insights to help companies prevent security breaches. Our cyber security risk assessments are second to none. So, if you are looking to strengthen your cybersecurity rating and program to prevent attacks and protect your data, then RiskXchange can help you!
RiskXchange is the best platform to protect your organisation from third-party cybersecurity and compliance risks. Our managed, third-party risk management program is a unique service that is fully integrated within the RiskXchange platform. RiskXchange can monitor your attack surface continuously to prevent data breaches, information leakage, as well as discover and report on a wide range of cybersecurity issues.
Get in touch with RiskXchange to find out more about cybersecurity law and how best to protect your organisation.