Is Cybersecurity the number one threat for CEOs?

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Cybersecurity threats are one of the major concerns faced by global leaders. These threats have been a significant problem for decades. Is cybersecurity the number one threat to the immediate future and top in global worries? 

Some of the reasons for cyber-anxiety are well-known.There is, of course, the substantial financial risk associated with cybersecurity; in both prevention and recovery. Companies that fall victim to cyber breaches can lose money, pay huge fines and perhaps most crucially lose the trust of their clients and employees.Security is all about knowing what to trust and whom to. 

The risk of a cyberattack is not purely financial; it’s all about personal ,official and much more.It does not just impact a single business, but it can affect multiple companies and their supply chains, as well as national and local government infrastructure.Cyber attack can spread disruption far and wide.

Cyber threats are so dangerous as they increasingly interlinked with other major threats facing CEOs. In a politicized and activist environment, cyber threats now closely linked to some of the most unsettling challenges like digitization, geopolitical instability and social inequality.Cyber threats tended to be fueled by greed and opportunism ;criminals looking to extort money from organizations and individuals. Above these, anger and activism are an increasingly important factor; as they want to make a point, whether it be about the politics of an organization, the damage it is causing on the environment or to society. 

Some practical steps to be taken by the CEOs to avoid organizations exposure to cyber attack.

1.Protect your brand from cyber threats to maintain the trust of consumers and employees

2.Collaborate with experts within your industry and sector to share insights and knowledge so that you can raise the collective level of awareness.

3.Work with experts who understand how cyber risk varies in the various markets in which your organization deals.

4.Hire an independent third party to evaluate and verify your infrastructure security.

5. Make sure you have an active, risk-based cybersecurity program in your organization.

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