Cyber risk
The new cost of doing business
At Herbert Smith Freehills, we understand that managing cyber risk is one of the highest priorities for our clients. This is why we have built a dedicated cyber practice to provide 360-degree cyber risk management and incident response services.
Whether your challenge relates to ransomware, cyber extortion, corporate espionage, inadvertent disclosure, advanced persistent threat, or something else – we have the subject matter expertise to assist you. With a ‘follow the sun’ model, 26 offices worldwide and an established network of trusted best-friend firms, our teams can provide assistance wherever and whenever you need it. Our practice brings together subject matter expertise across data privacy, insurance, regulatory, compliance, corporate governance, disputes and more to provide a complete end-to-end service for your needs. Our multi-disciplinary team have backgrounds in IT, forensics and cyber security, and can “speak the same language” as your technical teams.
Our risk management and advisory services include developing incident response plans, delivering cyber incident simulations, advising Boards, reviewing policies and procedures, and uplifting overall cyber resilience.
We offer 24/7/365 cyber incident response standby retainers. We recognise that one size does not fit all when it comes to cyber. We tailor our services to fit exactly what you need, are independent and can work with any forensic, IT or other providers of your choosing. Should an incident occur, we are your trusted crisis management advisers. Our experts can provide bespoke advice to guide you through the incident and its aftermath, including working with you to manage ransomware negotiations, media and communications strategies, law enforcement and regulator engagement, supplier and customer disputes, realising insurance recoveries, class actions and more.
Our 350+ strong global team of data and technology specialists can provide the full suite of data breach analytics services, including processing, analysis, analytics and hosting services, to get to the heart of compromised data and to understand the issues it presents.
Leading multinationals turn to us as their trusted advisers across the full cyber risk management lifecycle. We can help you with all your cyber security needs, including:
Experience
A GLOBAL INVESTMENT BANK
We advised a global investment bank in relation to a cyber security incident which saw US$40 million taken from a number of accounts, including reporting to and subsequent liaison with the relevant regulators, and on litigation by the account holders seeking to recover their losses from the bank.
a cyber forensics consultancy
We advised a cyber forensics consultancy on the legal considerations around maintaining a database containing compromised user credentials sourced from the open and dark web, and in particular the criminal and regulatory issues around paying for such data as well as the data protection issues concerning the measures necessary to protect the data.
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a consortium of global banks
We advised a consortium of global banks on establishing the Cyber Defence Alliance – a cyber security intelligence sharing joint venture. This included incorporating the necessary corporate entities, advising on the information sharing protocol, advising on data protection issues around aggregation and pooling of log information and advising on competition law issues in relation to avoiding sharing company sensitive information.
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an international bank
We advised an international bank on the creation of a Global Information Security Framework for all its global entities, involving the drafting of policies, guidelines regarding personal data, banking secrecy, cyber crime, data-leaks, and usage of social networks.
a US fashion company
We advised a US fashion company in relation to a cyber attack in which the client’s Managing Director’s email account was hacked, allowing the hacker to pose as the Managing Director and send instructions to the company’s Financial Controller to transfer funds from the US to a bank account in Hong Kong. We put a freezing order on the account, traced the perpetrator, commenced civil proceedings and the client ultimately recovered its funds plus the costs of the civil proceedings.
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a Russian subsidiary of Kerama Marazzi
We advised a Russian subsidiary of Kerama Marazzi on various issues arising in connection with system failure caused by NotPetya, including issues on force majeure, notifications to counter parties, whether the client could continue retail trading with inoperable cash registers, and liaison with law enforcement.
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Related insights
Key contacts
Andrew Moir
Partner, Intellectual Property and Global Head of Cyber & Data Security, London
