Ransomware and Board of Directors´ liability
November, 2021 - Reykjavik, Iceland
Lára Herborg Ólafsdóttir , partner and attorney at LEX, writes about Ransomware and Board of Directors´ liability in an article in the business section of the Icelandic newspaper Morgunblaðið, which was published earlier this month. In the current business environment, where the number of security threats is increasing, it must be considered reasonable for company executives to take targeted measures to ensure the security of the information that the company possesses. If no such measures are taken by the Board of Directors, it can be concluded that the Board of Directors may, as the case may be, be liable for damages caused by cyber-attacks.
