Cyber attacks on the IT infrastructure of major firms are hitting the headlines. The risk can be mitigated, but boards need to stay informed.
In January 2016, Michael Vatis, director of the FBI's National Infrastructure Protection Center, said: “Companies should be thinking about the legal and managerial decisions that the CEO, the COO and the board will need to make in the event of a cyber-incident.” Every board member, no matter where they operate in the world, should be aware of the catastrophic impact a cyber-attack could have to their company. The Business Continuity Institute’s Cyber Resilience Report 2016 states that “…cyber-attacks offer the most significant business risk to organisations”. The report highlights the top-five causes of digital disruptions as being social engineering, malware, spear-phishing attacks, denial of service and out-of-date softw