Legal Tech News and Events: June 27, 2022

Regulation: Carnival Fined by New York Regulators for Cybersecurity Violations

International cruise line company, Carnival Corporation, was fined on Friday amounting to $5 million. New York state regulators found them violating cybersecurity laws after four security breaches spanning from 2019 to 2021. The incidents involved sensitive customer data which put them at risk. 

The State of New York's Department of Financial Services said that the company violated the regulation by failing to use multi-factor authentication that would make it harder for attackers to access its internal network. Carnival also failed to train its employees and a failure to report a 2019 cybersecurity incident.

On June 23, 2022, a $1.25 million settlement was reached with attorney generals of the 45 US states and the District of Columbia.

Report: The Enterprise Legal Reputation Report

The Enterprise Legal Reputation (ELR) Report is research concentrated on how the corporate legal department is perceived by employees. Provoke Insights worked with 4,000 enterprise employees and 500 corporate legal professionals from The United States, United Kingdom, France and Germany. 

The study provides insight into how enterprise organizations view the functions of legal operations and the awareness of the legal professionals on their image. Below are the key findings:

  • 78% of enterprise employees view the legal department as a protector of the business
  • 79% do not think that Legal is “a modern operation”
  • 2 in 3 enterprise employees admit to intentionally bypassing their legal departments and processes
  • The legal department’s speed increased by 25% by using AI and other modern technology solutions to automate legal workloads
  • 54% of legal professionals say their CLM is currently automated
  • In companies where teams are remote, 3 in 4 respondents answered that Legal effectively manages confidential and sensitive matters 
  • The Legal team’s relationship with other departments also differs, 62% of HR and Finance employees report positive relations while 43% from Sales and 37% from Marketing and Procurement
InfiniGlobe empowers corporate legal departments to overcome the challenges and complexities of technology through simple, intuitive technology solutions. Get in touch and learn more at info@infiniglobe.com or at (833) LGL-TECH.

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