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The Booming IoT Will Increase the Risk of Cyberattacks

In the aftermath of the huge global cyberattack involving WannaCry ransomware, which affected more than 200,000 systems in more than 150 countries, organisations are taking the opportunity to examine their safety protocols with the hopes of optimising their praxis and reducing their risks. Some very significant national and international organisations suffered the consequences of a virus which, taking advantage of the security weaknesses existing in certain versions of Windows, encrypted information and blocked users' access to it until a ransom was paid in the cryptocurrency known as Bitcoin (USD 300 - 600), a system that allows hackers a certain degree of anonymity. What was remarkable was the speed with which the "worm" spread through the internet, attacking the protocol that facilitates file transfers in Windows networks.

In light of the alarm that this type of massive attacks generates, particularly in the business sector, it is important to remember that the measures aimed at fighting this type of risk are not all of a technical nature. Legal, regulatory and even organisational measures can be key to avoiding damage, or at least to minimizing its impact. Having proper legal mechanisms in place is essential for a company to quickly evaluate whether or not certain specific conditions have been met so the matter can be brought before the courts and the company can act before potential consequences arise.

Each case is different and there are no general rules that apply to all situations. In any case, we can highlight certain key questions that companies should bear in mind.

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