The growing number, frequency and impact of cyber attacks have propelled cybersecurity to the top of the CFO and board agendas in recent months. A new normal has been established.
Today’s cybercriminals are well-funded, organized structures with the patience to infiltrate a company’s systems over time to obtain the information they desire.
The infiltrators have gone beyond focusing on credit card details. They have long-term strategies, which often mean they are targeting to manipulate a company’s share price, alter a company’s financial data or undertake or interfere with large-scale financial transactions.
CFOs fully understand that cyber threats are real. They have seen the financial and reputational damage victims have faced. And as the world becomes increasingly digital, the number and severity of these threats will only intensify.
Cybersecurity is fundamentally about protecting an organization’s shareholder value. CFOs must play a much greater role.
Risks and rewards
Cyber-crime today is causing financial damage. CFOs need to put in the right measures to prevent, detect, contain and respond to cyber-attacks. [See a transcript of this video]