By Yonah Baker and Daniella Phair. King & Wood Mallesons’ Melbourne office.
The Center for Strategic and International Studies (CSIS), a non-profit policy research organisation in the United States, estimates that the theft of data and other IP results in a global cost between $450-600 billion each year.
To help counter this threat, the CSIS recently published a set of cybersecurity recommendations for the incoming Trump administration (CSIS Recommendations). In fact, cybersecurity issues were a recurring concern throughout the recent US presidential election campaign, and despite the CSIS recommending against a wholesale review, it was widely thought that on coming into power President Trump would sign an executive order mandating an immediate review of all US cyber defences and vulnerabilities. While no such order has yet been made, there is every likelihood that the Trump administration will give weight to the CSIS Recommendations, with Karen Evans, the co-chair of the recommendation taskforce, being a member of Trump’s transition team.
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