There is an interesting article today on the IAPP website about Cybersecurity in the Boardroom: The New Reality for Directors. While the article cites lawsuits in the US, the risks are as relevant in the UK and elsewhere.
Cybersecurity has earned a permanent presence on the boards agenda and is an increasingly important threat for discussion. Cyber risks need to be closely monitored in order to prevent cyber attacks and threats to the business that could potentially decrease shareholder value and damage business reputations.
Keeping customers’ personal information secure is more vital than ever, and boards need to lead on this by making sure that the risks are properly managed, whether guidance comes from knowledgeable board members, or from outside expertise. Every board should make sure they receive regular briefings on this subject.