Your IT department alone can’t stop a cyberattack

Cybersecurity is a $445 billion problem, and some predict that figure could rise to $6 trillion by 2021. The list of companies that have already been hacked, attacked, and breached – suffering business interruptions, intellectual property losses, and exposing their customers to identity theft – reads like a who’s who of the retail, tech, telecomm, manufacturing and financial services industries, among others. The finances, operations, customer data, R&D, intellectual property and brand reputations of all companies are at risk, which makes cybersecurity a fiduciary responsibility of the board and senior management. Yet in many organizations, top executives and board members still believe that cybersecurity is only an IT issue.

Written by

Michael Coden Head of the Cybersecurity Practice, BCG Platinion

Stuart Madnick Professor, Massachusetts Institute of Technology (MIT)

Alex Pentland Professor, Massachusetts Institute of Technology (MIT)

Shoaib Yousuf Project Leader, The Boston Consulting Group

Full Story: https://www.weforum.org/agenda/2016/11/how-to-prepare-for-the-cyberattack-that-is-coming-to-your-company