What liability might we be exposed to if a security flaw is discovered in our platform?
Upstream Product Marketing
Determining Liability For Security Breaches Isn’t Black And White
Aurora WDC Analysis: “According to a study conducted by the Ponemon Institute, the average total cost of a data breach for a business in the United States is $8.2 million. Cybercriminals also exploit flaws in hardware and software for ransomware and other malware attacks that wreak havoc.” Congress is looking to introduce legislation that addresses cybersecurity and liability. The cost of these breaches is expensive and the nature of the situation makes it difficult to assign blame. Legislation also becomes difficult because of this due to the challenge for developers to create an impenetrable platform. This could lead to a focus on mitigation strategies and guidelines that developers would need to comply with to avoid liability.