Fintech on Friday: Time cyber security took a seat in the boardroom

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Fintech on Friday: Time cyber security took a seat in the boardroom

Aglance look at the changing line-up of the largest companies in the world over the last decade — from PetroChina, Exxon and General Electric in 2008, to Apple, Google and Microsoft in 2018 — goes a long way towards proving the saying “data is the new oil”. Other entries in the 2018 top 10 include Amazon, Facebook and Tencent, companies at the forefront of the digital revolution. Technology has come to dominate both the corporate world and our everyday lives, but has brought with it a new set of risks.

Rising levels

So-called cyber threats are very real and hit all sorts of organisations, and the volume and impact of these attacks is increasing. The UK government’s National Cyber Security Programme’s latest Cyber Security Breaches Survey found that in 2018, 43 per cent of UK businesses and 19 per cent of charities suffered a cyber breach or attack.

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What are the Cyberhedge Cyber Governance Indices?

These first ever benchmarks prove good cyber governance matters to shareholder value. They measure stock market performance of companies with good and with bad cyber governance scores. Scores are based on Cyberhedge’s proprietary cyber governance rating methodology. Market performance is tracked by an independent firm. The results show that companies with good cyber governance outperform their peers in US, UK, and EU markets.

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