From this report it looks like boardrooms are slowly becoming aware of the cyber risks they face and more importantly, investing in people and technology to manage these risks.
But the fact that one in 10 FTSE 350 companies said they operate without a response plan for a cyber incident just shows that there is still a long way to go for some.
Having some of the brightest business minds in your organisation may translate to short-term wins now, but the high-profile directors without any basic training on how to deal with cyber attacks could send a company’s stock falling in the future. With no immediate threat of another financial crisis, the main threat to SMEs and large businesses now presents itself in the form of a cyber attack that could cripple databases, steal sensitive information and extract money. Companies ought to be aware of how to deal with such an incident should it occur, putting in the necessary training from high-level director right down to intern – this is important when you consider that the majority of cyber incidents occur through human error,” said Rob Wilkinson, Corporate Security Specialist at Smoothwall.