Cybersecurity Oversight in the Boardroom
A little more than a year ago, Equifax disclosed to the public that it had experienced a cyberattack, during which hackers stole the names, Social Security numbers, birthdates, and addresses of 147.7 million Americans – more than half the US population. Since then, other major data breach incidents have been reported worldwide, involving—among many other entities—Facebook, fitness tracking app Strava, Adidas, Under Armour, and identification authority Aadhar (compromising the personal information of all 1.1 billion Indian citizens registered under its service).
By now, it should go without saying that cybersecurity is not just an IT issue. Cybersecurity requires enterprise-wide awareness and effort. Cyberattacks hurt a company’s reputation and can lose your customers’ and suppliers’ trust: it can be difficult to shake off the public view that your organization is unreliable or inefficient.