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Five essential truths about cyber security CFOs should understand

Changing the game on cyber risk

CFO Insights – Cyber security: Five essential truths

Cyber risks, it seems, are everywhere. Retailers breached. Intellectual property stolen. Data hacked almost on a daily basis. It’s enough to rattle even the most steadfast of CFOs – and often it does.

Given the costs and the increasingly malicious nature of cyber attacks, CFOs are understandably focused on identifying potential cyber risks and planning their corporate responses.

Given that hackers have likely already infiltrated. Organisations should focus more on the detection side to increase their vigilance against attacks and on recovery after the fact.

A typical cyber-risk budget should break down into about 30 percent on firewalls, 50 percent on detection, and 20 percent on resilience preparation.

To have any chance of winning the cyber wars, however, there are several realities that CFOs should understand.

Click here to download the CFO Insights article, “Cybersecurity: Five essential truths,” to learn more

 

About the author

David Graham

2 Comments

  • Cyber security is a growing concern in companies nowadays. All of the companies’ employees should be concerned about the safety of the companies’ information. Cyber threats are not a new concern for companies. In the new technology age, cyber threats are actually a real concern. There are various security programs available for companies to protect their information. However, the problem with these programs is that the criminals, who oppose as a threat to the company, can also acquire these programs and then look for a loophole. The costs to get these security programs are very high and with the threats not disappearing, companies have to invest even more money for this purpose. These costs are extremely high, but well worth it! Companies should change and improve their security policies continuously to ensure that their information is, and stays, safe.

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