TheCityUK responds to the Cyber Security Breaches Survey 2018

The government has published the Cyber Security Breaches Survey 2018 which found just three in ten businesses (30%) and a quarter of charities (24%) have board members or trustees with responsibility for cyber security.

Responding to the report, Marcus Scott, Chief Operating Officer, TheCityUK, said,

These findings reinforce what we already know about cybercriminals: that they are smart and persistent. For firms across our industry, cybercrime is now the number one risk. To meet this threat, boards must have robust governance systems in place. Given the interconnected nature of the industry, firms with weaker governance could provide a gateway into those with more robust defences. The best defence is a collective, industry-wide approach.”

A new TheCityUK and Marsh report also published today, ‘Governing cyber risk: a guide for company boards’, outlines a new framework for boards to meet the growing cyber threat. It found that many companies were yet to meet the standards published today and need to do more to address the risks.