Building Cyber Security (BCS), a non-profit organization established to develop industry and government cyber protections standards for Internet-of-Things (IoT) devices, is pleased to announce its engagement with the international law firm Squire Patton Boggs (US) LLP for legal and other pro bono services.
Lucian Niemeyer, Chief Executive Officer of BCS said, “BCS is thrilled to have one of the world’s premier law firms contribute their considerable expertise to the success of our critical mission to improve human safety in a smarter world. We are keenly aware of the growing cyber threat to our homes, work areas, transportation, and the infrastructure we rely on every day for essential services and our survival. While our non-profit is only a year old, we continue to attract the bold, innovative companies like Squire Patton Boggs, and other cyber industry and real estate leaders to meet the compelling challenge posed by cyber threats to smart technologies. We look forward to a long relationship with Squire Patton Boggs to protect the unique intellectual property our stakeholders are developing to raise safety standards for all technologies in society.”
“We are living in an increasingly ‘smart’ world and the risks associated with cyber exploitation are growing at an alarming rate,” said Alan Friel, deputy chair of the firm’s Data Privacy, Cybersecurity & Digital Assets Practice. “An endeavor of this scale requires extensive industry and public sector expertise, coupled with deep experience handling complex privacy matters. We are delighted to bring our experience to bear for this important initiative and be part of BCS’ journey in creating a more secure world.”
Squire Patton Boggs counsel Gregory Johnson added, “We are living in a period where threats to the security of the internet, and our communication systems generally, are more evident every day. Cyber security is a key to our commercial success and national security. BCS is on the forefront of the private initiative to work cooperatively with government, in a true public private endeavor, for enhanced cyber protection which will serve to protect the commercial and personal interests of all Americans.”
Building Cyber Security, LLC (BCS), is a nonprofit 501-C-6 entity formed in 2020 to establish and sustain products and services developed by stakeholders across multiple sectors offering market-driven options and insurance incentives to promote cyber protections in controls and devices in an increasingly smart world. The goal of Building Cyber Security (BCS) is to improve human safety globally by incentivizing investments in operational technologies, processes, training, and recovery plans to enhance the security of cyber-physical systems against rapidly evolving threats in technologically advancing societies.
According to the World Economic Forum, cyber-attacks are cited as No. 2 in the top 10 global business risks.
- Gartner predicts 75% of CEO’s will be personally liable for cyber-physical security incidents by 2024.
- Gartner also predicts that the financial impact of CPS attacks resulting in fatal casualties will reach over $50 billion by 2023.
- Cybersecurity Ventures expects global cybercrime costs to grow by 15 percent per year over the next five years, reaching $10.5 trillion annually by 2025. According to Cybersecurity Ventures, this represents the greatest transfer of economic wealth in history.
More information can be found at https://buildingcybersecurity.org/ and https://www.linkedin.com/company/building-cyber-security