When it comes to being a victim of cyber attacks, mid-market companies are finding that no business is too small for a hacker’s purview. With financial losses from security incidents rising 18% from 2013 to 2014, executives are working on doing whatever it takes to develop adequate safeguards. And many feel the federal government’s involvement may also help, particularly, among small to mid-sized businesses.
All companies—not just big, public firms—are vulnerable to security breaches. Fortunately, there are measures CEOs can take to mitigate risk.
Due to their high profiles, CEOs face heightened risk from credit card and other personal data and privacy breaches.
Currently, 47 states have cyberbreach notification laws, according to a survey by Software Advice, a software selection consultancy. Yet, just one third of survey respondents, who are SMBs, are confident that they understand their state's laws.
Never has so inconsequential a film had such a major impact on international politics or business.
As we approach the one-year anniversary of the data breach at Target, cyberhacking has CEOs’ attention like never before. Here are some ways for CEOs to ensure they are doing all they can.
All CEOs and board members today must understand their company’s security risks. Without this knowledge funneling down from the top, risk analyses and resulting decisions may be flawed, leading organizations to take on greater risk than intended.
Boards of directors are finding themselves in a position of having to shore up their tech skills in an area where, a year ago, they didn’t have any skills at all beyond simply asking the CTO, “Is our data security working? Great. Good. Have a nice day.” Now they’re struggling simply to understand the right questions to ask.
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As more business transactions are transferred to the web, chief executives are faced with the decision of whether or not to stay with traditional models or to move with the marketplace. Though security threats are a main concern, and CEOs should learn how to combat cyber sabotage, some new technologies are far safer than you think.