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NoBoards have a fiduciary responsibility to manage risk and cyber is another risk they are required to manage, they’ve ignored it. Even when its been highlighted as a top 4 board risk, by many an austere publication.In our digitally dependent world, cybersecurity risk management is just a cost of doing business. A cost that boards have let slide under the table as a ‘Right of Bang’ issue, an issue they have relied on cyber insurance to resolve, or ignored as ‘it won’t happen to them’. Olaf Classen one only has to look beyond our hallowed shores to see the extend of cyber attacks across Europe, the America’s and APAC. To understand the size of the problem.Personally one looks to the UK government for guidance. To communicate the issues that the UK faces to UK boards and provide solutions. There’s plenty of precedence from the US, EU and Australia to demonstrate the size of the cyber problem and what and how to communicate to industry.It’s sensational to state that UK business is living in fear that they could be next. Cyber is a business, and boards have buried their heads in the sand under the guise of Fear Uncertainty and Doubt (FUD). Cyber is not going away, the risk will get worst along side our digital dependency. Boards need to actively manage cyber as any other business risk.Why did the EU regulate cybersecurity risk management across CNI and FIs, or the US regulate cyber across capital markets? Cyber risk management is a board governance issue pure and simple.@Thaddeus Dziekanowski Brian D. McCarthy Faisal KhanVeritas GRC#cybersecurity #cyberriskmanagement #cyberregulation
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