Last Thursday, Vikki Wall spoke at the Third Conference on IT Law organised by the Ukrainian Bar Association in Kyiv.
As a part of the session covering “Internet and Cybersecurity”, Vikki joined a panel of legal and technical specialists who spoke on a number of Cybersecurity issues; ranging from advice on practical anti-abuse approaches to adopt, legal strategies to follow in the fight against cybercrime to Vikki’s presentation on methodologies and approaches to consider in calculating losses arising from Cybersecurity and IT Contract breaches.
Vikki discussed the challenges in quantifying damages in Cybersecurity breaches; highlighting the importance in considering what data has been lost or taken, recognising the diminished trust or confidence by customers in a product or service provider and the impact of the breach on both the company’s reputation and its costs. In summarising this developing area, Vikki referred to recent cases, such as the Sony Gaming Networks case where it was widely reported that ultimately the Claimants failed to prove damages following a customer data security breach litigation.
Vikki explained the techniques she uses in assessing the evidence and quantum of both wasted costs and loss of profit claims in IT Contract breaches. She drew on her forensic accounting experience to consider the potential range of wasted costs that could be claimed in Cybersecurity breaches, from costs of detection and escalation activities to notification costs and additionally any post data breach costs. Vikki concluded her presentation by explaining the advantages of working closely with both any specialist IT technical experts and with the legal team, so that she is able to align the quantum to be calculated to the facts of, and legal position adopted, on the case.
We hope that the attendees found the day as enjoyable and informative as we did. Attendance at such specialised conferences provides us with a great opportunity to catch up with leading Ukrainian IT lawyers and hear about the latest developments and thought leadership in IT law, including tokenization, GDPR and blockchain economics.
Our thanks to the Ukrainian Bar Association for hosting, to the Chairs and to the other speakers.