Despite more global recognition of the magnitude of cyber risks, such as the increase in frequency and cost of ransomware incidents and the consequences of more robust regulation and litigation risks, many organizations have not taken the necessary steps to create and/or adapt their cybersecurity policies in the face of these new threats. Companies must prepare for the new challenges brought about by the evolving targets, techniques and impacts of cyber criminals. Chiefly, renewed focus on operational structures, cyber hygiene and best practices may have more impact than investing in new technologies.
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With the digitalization of entire sectors of the economy, certified timestamping has become increasingly important in commercial relations as it is one of the best ways to demonstrate that an action has been taken. This article will explore the many areas where electronic timestamping is useful for proof and traceability purposes.
The practice of associating a date and time with an event, also called “timestamping”, has its roots in the need to produce evidence to assert a right during a dispute or litigation. But how do you verify the existence of electronic data? The digitalization of entire sectors of economic activity has led to the need for electronic timestamping. This article will review the ‘what’ and ‘how’ of electronic timestamping in the overall legal context.