Are you serious (about cybersecurity)?
Cybersecurity is not only about response, but also about ensuring a company’s cyber resilience. J.P. Morgan Chase & Co. spends $600 million each year on improving cybersecurity with around 3000 people working on IT security.
Not only are board members becoming much more involved in a company’s level of preparedness for cybersecurity risks, Congress in the US wants public companies to appoint a cyber expert on their board of directors. The US government has warned of potential cyberattacks from Iran given the recent tensions between the two countries. Explore how businesses can prepare for such risk.
There was a stark reminder for businesses in the UK to meet specific cybersecurity expectations as the Information Commissioner’s Office (ICO) handed out a £500,000 fine to the owner of Carphone Warehouse and Dixons Travel.
Businesses of all sizes need to get serious about cybersecurity. Having an Incident Response Plan (IRP) is key as well as an established process for investigating security incidents. There is a strong business case this year for companies to rehearse cyberattacks as this can better prepare them for a real incident.
Be prepared and minimise risk by taking advantage of Lexology PRO:
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