May 29, 2024 at 06:53AM
In litigation, the standard of proof varies for criminal and civil cases. Regulators overseeing enterprise cybersecurity practices rely on the concept of “reasonable cybersecurity,” which lacks a precise definition. Quantifying cyber risk is crucial in determining what constitutes a “reasonable” cybersecurity defense, with regulatory frameworks such as NIST CSF and CIS Controls providing essential controls.
From the meeting notes, it is clear that the concept of “reasonable cybersecurity” is crucial in various legal and regulatory contexts. The standard of proof for cybersecurity practices involves a level of subjectivity and context-dependent interpretation. This concept intersects with privacy laws and is important for meeting regulatory requirements and cyber insurance criteria.
Quantifying cyber risk is emphasized as a way to determine what is considered reasonable. Better data on cyber threats and vulnerabilities, along with understanding interconnectedness between institutions and service providers, can help in identifying and measuring the impact of cyber incidents.
The importance of materiality in relation to reasonableness is highlighted, with terms such as “materiality” and “reasonable cybersecurity” being essential considerations for boards and executives. Security frameworks like the NIST Cybersecurity Framework and CIS Controls are mentioned as tools to help organizations meet reasonableness legal requirements and regulatory standards, as well as cyber insurance requirements.
Reasonable cybersecurity is also noted as a strong defense against artificial intelligence attacks when supported by data governance programs and cybersecurity best practices.
If you require further analysis or summaries from the meeting notes, please feel free to ask.