Addressing insider threats: how board members can maintain cyber security

Addressing insider threats: how board members can maintain cyber security
Paul Stark, general manager, UK at OnBoard, discusses how board members can address insider threats by maintaining cyber security

Cyber security needs to be high on any boardroom agenda.

As more board executives, directors, and administrators adopt digital board management processes, board cyber security risks associated with piecemeal digital adoption leave them more vulnerable to serious cyber threats.


Board members play essential roles in organisations of all types, including financial institutions, healthcare organisations, non-profits, and governmental bodies. The board of directors provide oversight and ensure the organisation remains focused on its mission and vision.


Boards must entrust their members with sensitive data to ensure they effectively fulfill their roles. But a data breach involving sensitive board information can result in costly litigation and devastate an organisation’s reputation.


The costly risk of board cyber security breaches


According to an annual IBM Security Report, the average data breach in the United States costs $8.64 million. The expense rises for organisations in highly regulated industries, such as healthcare organisations, which incur the highest average cost for a data breach.


Boardroom breaches can tarnish an organisation’s reputation. Lost business costs — including customer turnover, revenue lost by system downtime, and efforts to gain new business with a diminished reputation — account for about 40% of the average total cost of a data breach.


Boardroom breaches can tarnish an organisation’s reputation. Lost business costs account for about 40% of the average total cost of a data breach.


When COVID-19 hit, our “new normal” turned into remote work, Zoom meetings and distributed IT. These measures bolstered health and safety, but also invited increased cyber security and identity-based ..

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