A lack of awareness and communication in the C-suite could be exposing some of the UK’s top companies to avoidable cyber risk, according to a new report.
As part of the government’s Cyber Governance Health Check, KPMG spoke to board members from FTSE 350 firms to discuss the steps they’d taken to manage key data and fight cybercrime.
It found that while almost three-quarters (74 per cent) of respondents felt their firms were taking IT security very seriously, 39 per cent also admitted to not personally having “an acceptable understanding” of their key information and data assets.
A further 45 per cent acknowledged that they didn’t understand the potential impact of losing that data.
Malcolm Marshall, global leader of KPMG’s cyber security practice, reflected that while cyber risk appears to be moving up the C-suite agenda, communication between boards and management “remains patchy at best”.
“Regular board engagement on this issues is critical to ensuring companies remain alert to this growing threat,” he continued.
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