Warren Buffet recently cited cybersecurity as the number one issue facing humanity- more dangerous even than nuclear weapons. If one of the world’s preeminent investors, who quantifies business risk and opportunity every day, is paying so much attention to the issue, every executive and board member should, too. And many are. According to the World Economic Forum, a majority of business leaders indicated that cyber-attacks are their top concern heading into 2018. Much of this attention is likely driven by the substantial— and costly—growth of cybercrime. It is estimated that in just three short years, cybercrime damages will reach $6 trillion annually, making cyber-attacks more profitable than the trade in all illegal drugs, combined.
This white paper begins with an overview of cybersecurity threats, issues, and considerations, especially in terms of the business concerns most important to boards and company executives. It then articulates and explains six guiding principles that will enable senior leaders to assess and improve their organization’s approach to cybersecurity.