Cybersecurity incidents are not only increasing in frequency, but also in cost.
The global average cost of a data breach in 2024 is $4.88 million, which is a 10% increase from 2023. It’s also the highest cost to date. Of course, financial repercussions are not the only cost organisations face when they deal with a cybersecurity incident — as reputational and operational damages can also cripple the business.
Board members must play an active role in mitigating and preventing cyber-attacks. However, only 12% of S&P 500 companies have a current or former board member that is a cyber expert. This knowledge gap may be hurting your organisation now and in the future.
How can you ensure your organisation doesn’t end up in the latest cybersecurity breach news cycle? It starts with asking the right questions.
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