Boards and audit committees need to take cyber-security seriously, and ensure that basic steps are taken to prevent disaster.
The media loves cyber-security. Hardly a day goes by without a story of a major data breach, a denial of service or defacement of a corporate website, or of yet another cyber-fraud or extortion attack. The figures seem spectacular: 40m payment card details stolen from a single retailer; 80m people have their personal details compromised in an attack on a life assurance firm; a major US bank is compromised; and even the US government seems to find it difficult to repel the attackers. While there is much hype around cyber-attack, the reality is that our world is becoming ever-more digital and, unsurprisingly, criminals follow the money. The glo