Following a presidential campaign dominated by talk of hacked email and unsecured servers, businesses are emphatically reminded of the potential cybersecurity danger no matter the business or industry. Threats come from all directions. Criminals and foreign hackers have grabbed headlines with personal financial data thefts from Target and Home Depot. Yet a 2016 IBM-sponsored study concluded that 60 percent of all attacks come from internal sources, with the majority carried out with malicious intent and a quarter of the breaches resulting from error. Compounding the problem, the damages caused by cyber breaches are skyrocketing: the average cost of a data breach is more than $4 million and growing annually, according to the IBM study.

As the risk grows, the board of directors role in identifying and managing the risk becomes more imperative. Read the article here.