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Cybersecurity and Privacy: Key Challenges and Opportunities

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Introduction

In today’s digital age, cybersecurity and privacy are increasingly important concerns for individuals and organizations alike. As technology continues to evolve, so do the threats to our online security and personal data.

Cybercrime: A Growing Concern

• It is often easy to access, share, alter or destroy data due to a lack of security culture within organizations.
• Committing a cybercrime is usually a low-cost activity.
• Illegal access to systems, dissemination of data, ransomware attacks, accounts and data theft, cyberespionage, phishing, and other misconducts are increasingly common.

Peru’s Response: A Regulatory Framework

Peru added ‘cybercrime’ into its criminal legislative framework in 2013. The Budapest Convention on Cybercrime was approved by the Peruvian government to complement regulation on illicit access to systems, attacking the integrity of computer data and systems, illegal interception of data, technological fraud, identity theft, among others.

Challenges: A Lack of Data

• The lack of detailed statistical data on cybercrime makes it difficult to engage in public policy discussions.
• Public prosecutors, the National Police, and the National Institute of Statistics have published generic information on crime rates, but there is still a pending assessment of the facts and trends in cybercrime and the real impact of the 2013 Cybercrimes Law.

M&A Deals: A Critical Consideration

Companies should factor risks arising from privacy and data security issues into their decisions. A compliance assessment on the target firm is advised to identify scenarios of non-compliance and quantify them based on their seriousness.

Key Attributes for a Lawyer

• Complementing legal services with an IT team (in-house or law firm’s team) is necessary due to technical and economic processes involved in cybersecurity and data protection.
• Experience in privacy and information security is also necessary.

Complexity and Interest: A Valuable Opportunity

The lack of sufficient case law to provide precedents and clarity about enforcement criteria creates uncertainty surrounding the DPA’s position. This is a valuable opportunity for lawyers to participate in shaping reasonable criteria to be applied in future cases.

Privacy Landscape Change: A Shift in Enforcement

• The DPA’s enforcement via dawn raids and sanctioning proceedings has tripled in 2018.
• Sanctioning proceedings have continued stating strict criteria, and informative events have broadened the consciousness of privacy rights.
• Potential contingencies arise not only from the DPA’s activities but also from data subjects’ legitimate actions.

Cybersecurity Incidents: Industry-Specific Threats

The types of incidents depend on the industry in which the firm operates (e.g., banking, e-commerce). Common cybercrimes include skimming, pharming, and phishing.