Board of Directors’ Risk Oversight Responsibilities on Cybersecurity

The vast majority of organizations around the globe rely heavily on digital technology to function.  We certainly require good cybersecurity that protects the ability to function safely, and ensures organizations can exploit the opportunities that technology brings. Cybersecurity is therefore central to an organization’s health and resilience, and this places it firmly within the responsibility of the Board of Directors.

New regulations (such as GDPR) as well as high profile media coverage on the impact of cyber incidents have raised the expectations of partners, shareholders, customers and the wider public. Organizations, especially their board members, have to get a firm grip on cybersecurity.

What conscientious manager or owner would leave their valuable premises unguarded and assets unlocked? The answer is no one! Data is our most valuable asset and leaving it with weak encryption leads to asset theft, financial failure, bankruptcy and lawsuits. End-to-end encryption is simply locking the premises securely and protecting our assets from data theft. Additionally, the biggest outlier today is Quantum computing which will soon have the power to crack all current encryption such as RSA and attack all digital assets.

Since encryption is the last line of defense from cyberattacks, the minimum “base case” requirement for security today is quantum-safe, end-to-end encryption. Companies and their board members should demand for its implementation, and that search will lead them to IronCAP, the only “shovel ready” quantum-safe encryption that’s available today.

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