Firms must focus more on information governance, lawyers say.

• Position: INFO GOV PROGRAMS - Brief article

Firms just aren't paying enough attention to information governance (IG), according to corporate in-house counsel interviewed for Kroll's 2016 Corporate Risk Survey.

The 170 lawyers taking part in the survey cited the following as the most pressing issues facing their firms: data security, cybersecurity, and privacy risks, including the loss of personally identifiable information.

Almost half of respondents (47%) said their companies do not have an IG program in place. According to the survey, another 26% think their programs lack the resources needed to be effective.

The survey also found that 59% of lawyers reported that their organization's data breach or incident response plans are inadequate or non-existent.

Other findings include:

* Data security is "the most significant risk facing modern corporations." Most (76%) in-house counsel said there are effective safeguards in place to protect their organization's intellectual property, but only 41% said their company's plan is regularly updated and tested.

* Two-thirds of respondents said their firms are more at risk of external fraud, while 33% believe their risk of internal fraud is higher.

* For...