While the acceleration of digital adoption across global organizations has greatly improved operational efficiency, one of the unintended consequences has been the vulnerability to cyber risks. CISOs and CSOs are no longer the only organizational roles worrying about hacks, breaches and other cyber concerns - now, we are seeing these worries trickle down to other disciplines.
Finance teams in particular are increasingly worried about cyber issues, given the significant responsibility they have to secure and protect funds both inside and outside of their organizations. In a recent independent survey commissioned by Flywire of 300 CFOs, VPs of Finance, Controllers and other executive-level finance professionals, respondents indicated they were just as worried about cybersecurity issues as they were with accounting issues. In the survey, 90% of respondents cited fraud, 88% cited concerns about being hacked, and 85% mentioned money laundering as their biggest cybersecurity concerns.