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Cyber threats top corporate risk list
General counsel in the US see the escalating risks involved with IT and cyber security as the main threat to their organisations' operations and reputation, according to a recent survey.
Cyber security: escalating risks
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The findings of the 12th annual law and boardroom study from Nashville-based information provider Corporate Board Member reflected changes in US business such as increased on-line communication and the diversification of delivery channels, reports accountancy sector web site In Audit.
Concern doubles
According to the survey, 55 per cent of legal department heads in the US cite data security as a major concern – a figure that has more than doubled since 2008.
TK Kerstetter, president of the Corporate Board Member, said: ‘It is going to take several well-publicised security breaches before a majority of corporate boards finally embrace the fact that doing business today without a prudent crisis plan in place is a formula for disaster.
‘While a number of companies are taking steps to become more educated on IT risks, the fact is that not enough are taking the appropriate actions to fully prepare their organisation.’
