Cybersecurity In The Boardroom

Dateline: January 13, 2017

Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.

Cybersecurity has become a boardroom topic now that executives realize how devastating a breach can be.  Recently, Information Management published an article, Why Cybersecurity Leapt From the Basement to the Boardroom, reporting that spending on cybersecurity is up about 8% over 2015 spending, since Gartner predicted a 2016 spending of over $80 billion.  The author, cybersecurity analytics expert and Skybox Security CEO Gidi Cohen, suggests two reasons why the Board is now involved.

Cybersecurity Impacts Stocks, Mergers and Acquisitions– The Yahoo merger with Verizon and the St. Judes Medical sale to Abbott Labs deals were both in jeopardy after vulnerabilities were disclosed.

Regulations Get Teeth–and Executives Don’t Want to Get Bitten– The European Union’s General Data Protection Act (GDPR), taking effect in 2018, will give citizens more confidence over their personal information and make companies responsible for keeping their data secure, including significant penalties for non-compliance.  In another example, New York State has proposed cybersecurity regulations aimed at guarding consumer data and financial systems from cyberattacks.

What is your Board’s involvement in your cybersecurity strategy?  What should it be?

That’s a WRAP!  Have a great weekend!

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