Mahmut Barlas / Banking and Finance
Digital transformation creates significant opportunities for innovation, efficiency and convenience for businesses. However, reliable digital technologies come along with digital security and privacy protection risks. Data theft and cyber risk are major threats for corporations and organizations.
Unfortunately, most of the organizations and corporations do not have sufficient protection to prevent data breaches and comply with privacy laws against these evolving and developing threats.
According to Data Breach Investigation Report from Verizon, studies showed that 3950 data breaches occurred in 16 different industries in 2020. Most of these breaches are perpetrated by external actors and organized criminal groups and 86% of them are financially motivated.
Our Partner Mahmut Barlas and Associate Çağdaş Altinova explained the legislative challenges that needs to be taken into consideration for cyber insurance under Turkish law for Insurance Day.
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Should you wish further insight about this matter, please contact Mahmut Barlas and Çağdaş Altinova.