Dave Navetta, a founding partner of virtual IT law firm Information Law Group, says cybercriminals are getting more organized, which is forcing law enforcement and the banking industry to follow suit. "While, in many cases, the authorities may not be able to reach the so-called masterminds of these schemes, they can engage in efforts that can significantly disrupt their criminal enterprises," Navetta says. "These arrests may also potentially lead to additional information and potentially arrests further up the food chain. It will be interesting to see how well the leaders of these attacks insulated themselves from those on the ground floor."
During this interview, Navetta discusses:
- The role financial institutions and law enforcement play in the move to capture and prosecute cybercriminals;
- Steps the industry should take to ensure its networks and databases are secure;
- Legal steps financial institutions should take to ensure they are protected if and when a cyberbreach occurs; and
Prior to co-founding the Information Law Group, Navetta established InfoSecCompliance LLC, a law firm focusing on IT-related law. ISC successfully served a wide assortment of U.S. and foreign clients from Fortune 500 companies to small start-ups and service providers. He previously worked for over three years in New York as assistant general counsel for a major insurer's eBusiness Risk Solutions Group. While there he analyzed and forecasted information security, privacy and technology risks, drafted policies to cover such risks, and worked on sophisticated technology transfer transactions. Navetta engaged in commercial litigation for several years prior to going in-house, including working at the Chicago office of Sedgwick, Detert, Moran and Arnold, a large international law firm.
Navetta also serves as a co-chairman of the American Bar Association's Information Security Committee and is co-chairman of the PCI Legal Risk and Liability Working Group.