Locke Lord Chicago Partner Molly McGinnis Stine was quoted throughout The Legal Description’s 2015 Cyber Security Special Report addressing a number of cybersecurity issues including the need for a national standard in regulation for cybersecurity and the evolution of cyberthreats.
McGinnis Stine addressed regulation and legislation issues by addressing the overlapping interests of various industries, "noting that a wide range of regulators have a stake in strong cybersecurity. For instance, the Federal Aviation Administration is interested in the cybersecurity of the airline industry and the Food and Drug Administration is interested in medical device manufacturers." McGinnis Stine continued by saying that the issue would not be an easy fix as "regulators and interested parties are going to have to wrestle with whether to make a baseline standard of one-size-fits-all, or whether there should be a range of standards depending on the size of the company and what industry they operate in."
She also addressed the evolution of the cybersecurity environment with increased data breaches in the government and major companies noting that "not only are cyberthieves getting advanced at an increasingly rapid pace, but their goals are shifting as well." She went on to state that “although much hacking activity is for financial gain of some sort, there are other kinds of intruders. Someone might want to prove they can get into the company’s system. There is also an increase in hacktivism."
To read the 2015 Cyber Security Special Report in full, download a version on the The Legal Description.