Despite highly publicized data breaches at companies such as Citigroup and Sony, most businesses remain woefully underprepared to deal with cybercrimes and other IT-related risks.
"I don't know a single company that has mapped out all the jurisdictions where it does business, what the cybercrime laws are there, and the proper points of contact" should an incident occur, says Jody Westby, CEO of consultancy Global Cyber Risk.
A recent survey by Carnegie Mellon CyLab found that only a third of Fortune 1000 boards had focused on guarding against the most critical privacy and security risks, which today typically stem from breaches of a company's IT system.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
