Heads Up: Cybersecurity Needs More Focus by Boards

Jermey Hodges of Bloomberg Business has penned an article entitled "Cybersecurity Must Be Priority for UK Boards" on January 16th 2015.

According to KPMG, less than 40% of FTSE 350 companies are viewing cyber-attacks as a more serious risk than other risk pitfalls, as reported.  Data theft and cyber attacks are amoung the 10 biggest pitfalls to global stability this year as published in January in the World Economic Forum Global Risks Report.

Notwithstanding the importance of managing this risk, Bloomberg reports that better communication must exist between the board and management team/IT areas to plan for and mitigate risks as much as possible.  Recent cyber attacks include Sony, JP Morgan & Co., ebay, PF Chang's, and Domino's Pizza in Belgium and France causing financial and reputational losses for firms.

Deloitte's has a good piece for directors and cyber security, check out for more information: 

http://deloitte.wsj.com/riskandcompliance/2013/10/10/the-boards-role-in-overseeing-cybersecurity-risk/