Finance Plays Critical Role in Mitigating Cyber Security Risks
CFOs and their finance teams are toughening policies on suppliers and increasing insurance coverage as they are asked take on a larger role in defending their companies from emerging cyber risks, according to a new survey of Chartered Global Management Accountant® (CGMA®) designation holders.
More than 95% of CGMAs surveyed said their companies are concerned with the threat of database breaches, distributed denial of service (DDoS) attacks, phishing scams and other cyber attacks. Nearly three quarters, 72%, said their companies have asked the finance function to take on more responsibility to mitigate these risks.