Key Insights from the 2018 Incident Response Forum (IRF)

FRA's Mark Gonzalez, Director of Business Development in FRA's Washington DC office, represented FRA at the Incident Response Forum (IRF) this month.

IRF is the only conference of its kind. It is focused solely on the field of Incident Response - the work that begins after a data breach has quickly become the fastest growing practice area at law firms and consulting firms - and was geared specifically for the more than 250 legal and compliance delegates who were in attendance and who have emerged as critical players during the aftermath of a data security incident.

Over twenty-five distinguished faculty consisting of current government cyber-prosecutors and cyber-investigators, attorneys and experts specializing in data breach responded to the most important and timely data breach response topics. A few key insights from the IRF 2018 included:

• There is a new accountability paradigm forming quickly in the wake of guidance released by the SEC in February 2018; coordination amongst multiple parties - C-suite, counsel, forensic teams, etc. - is the new norm in the aftermath of a breach.
• Tabletop exercises represent an invaluable tool in planning and preparation for when an incident occurs; not a matter of if but rather when.
• Cross-border situations add a layer of complexity to an otherwise stressful IR situation that cannot be overstated; professionals agree issue of privilege should be treated cautiously when foreign regulators are involved.
• Materiality is interesting in evaluating effects of a breach because they have become so common and frequent; professionals recommend assessing qualitatively before going right to quantifying losses.
• Technologies have become so complex and related disciplines so specialized that when a breach occurs, first, "don't despair" and then proceed quickly to getting internal stakeholders of the target company talking and collaborating - internally and externally.

In summary, IRF 2018 provided an exciting and informative day of interactive panel sessions and keynote speeches to discuss how attorneys and other professionals can successfully and effectively manage an Incident Response engagement.

Find out more about the Incident Response Forum.