Who should be responsible for cybersecurity?
Clearly, cybersecurity is everybody’s problem. It’s high time this truth was recognized, starting with the executive suite on down.
The news today is flush with salacious stories of cyber-security breaches, data held hostage in brazen ransomware attacks, and compromised records and consumer information. So too has the fallout become increasingly familiar: broken trust, ruined brands, class-action lawsuits, and prolonged periods of finger pointing.
In September 2017, news broke that consumer credit reporting agency Equifax had suffered a catastrophic breach the preceding May. Hackers gained access to the personal data of nearly 150 million American citizens – roughly two thirds of the country’s population – including full names, Social Security numbers, addresses, and dates of birth. The swiftly unfolding scandal sent the company’s stock plummeting 33%, a market value loss of approximately ten billion dollars. Currently, three Equifax C-Suite managers are under federal investigation for allegedly dumping stock prior to disclosing the breach.