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Cyber risk - The board must drive the focus

Lee Fook Sun
Published Thu, Aug 11, 2022 · 06:05 PM

ORGANISATIONS’ increased dependence on digital systems to drive business outcomes inevitably leads to the commensurate consequences of cyber incidents. We have seen many examples of how cyber threats, such as ransomware and cyber supply chain attacks, cripple business operations and cause irreparable monetary and reputational losses. According to Gartner research, 88 per cent of corporate directors view cybersecurity as a business risk. This indicates the need for cybersecurity to be strategically addressed by the leaders and executives of any organisation.

However, there is still much uncertainty around the board’s responsibilities. A MIT Sloan School of Management survey found that o…

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