Legal basis for managing director liability
The liability of a managing director is governed by various legal provisions, in particular the Limited Liability Companies Act (GmbH-Gesetz) and the Stock Corporation Act (Aktiengesetz). A managing director is personally liable if they breach their duties and this causes damage to the company. In the context of cybercrime, this can be the case, for example, if insufficient IT security measures have been implemented.
Managing director's duties of care
Managing directors have the duty to exercise the diligence of a prudent businessman. This means that they must comprehensively inform themselves about threats and take appropriate measures to fend off cyberattacks. This includes regular security updates, employee training, and the use of security software tailored to the specific needs of the respective company.
Preventive measures to avoid liability
To minimize liability, managing directors should take preventive measures. These include implementing a comprehensive IT security concept, regular security audits, employee training, and the creation of an emergency plan in the event of a cyber attack. It is also advisable to take out cyber insurance policies that cover potential damages.
Liability in the event of damage
If a successful cyberattack occurs despite all precautionary measures, the question of liability arises. Managing directors are liable if gross negligence or intent can be proven against them. This can be the case if fundamental security standards were disregarded or insufficient protective measures were taken.
Conclusion: Timely consultation is crucial
The liability of the managing director in the event of cybercrime attacks is a complex topic that requires comprehensive knowledge and experience in several areas of law and in the field of IT security. It is therefore advisable to contact an experienced lawyer who has the necessary expertise in a timely manner. For further information and individual consultation, please feel free to contact Anela Blöch (bloech@atb.law) and Roman Taudes (taudes@atb.law) available at any time.
