No business risk in the 21st century has created more challenges and concern to boardrooms and C-suites than cyber security risk.
Reputations have been destroyed with customers and shareholders, and recent lawsuits have raised questions challenging the integrity of senior executives when faced with managing the impact of a cyber attack.
The media have been unforgiving and it is very clear that no nation, industry sector, company or individual is immune. For this reason, it is clear that responsibility for cyber security starts at the top, and oversight of a comprehensive and measurable risk management programme sits with the executive leadership teams.
Today, the cyber risk has extended far beyond being “an IT problem.” It has become a serious issue of business continuity and core responsibility of executives of businesses of any size to protect shareholder value.
The World Economic Forum Global Risks Report 2018 identifies cyber attacks and data fraud or theft as the joint third-biggest risk in terms of likelihood that highlights a clear and present danger of “if not when” an organisation will suffer the impact of loss caused by a cyber attack.
Cyber risk ultimately poses a threat…
