Despite investments of time and money, 65% of board directors still believe their organizations are at risk of a material cyberattack within the next 12 months, based on a survey of 600 board members by Cybersecurity at MIT Sloan, a confidential academic forum in which leaders and managers can benefit from the experiences of CSOs and CISOs across many sectors. Within many organizations, the prevailing attitude is that cybersecurity is the responsibility of the CISO or a company’s IT department. But with the cost of cybercrime on the global economy measuring about $445 billion every year, and $160 billion in reputational damage, data leaks, ransoms and monetary losses, cybersecurity is a board-level issue that needs to be strategically addressed from the top down.
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