August 24, 2022
According to a PwC-Pulse survey released on Thursday, 40% of top business executives consider the risk of cyberattacks to be their top concern, followed by talent acquisition (38%).
According to Nicole Darden Ford, vice president of global security and CISO at Rockwell Automation, the ongoing changes and evolution of cyber risk adequately explain why cybersecurity remains the highest priority of all organizations.
The study shows that managers are now more concerned than ever about cyberattack risks, as these concerns are no longer just the concern of the CISO or cyber risk officer alone.
Cyberattacks have various negative consequences, including disruptions to workflows, waste of time and resources, redundancy and unnecessary financial expenditure.
Regulators from the Securities and Exchange Commission to the Federal Trade Commission to government agencies such as the New York State Department of Financial Services announced additional disclosure requirements for companies. The requirements mandate the immediate disclosure to either customers or investors about major data breaches or cybersecurity attacks.
SEC regulations also require detailed disclosure of material cyber incidents (attacks and major data breaches) within four business days, along with calls for improved corporate governance measures.
The sources for this piece include an article in CIODIVE.
