How CFOs help reduce cyber risk
CFO Dive
DECEMBER 18, 2023
As a CFO, it is essential to wear several hats, including that of managing risk effectively.
cyber-risk 
How CFOs help reduce cyber risk
CFO Dive
NOVEMBER 13, 2023
As a CFO, it is essential to wear several hats, including that of managing risk effectively.
CFO 
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Mitigating cyber risk: What can CFOs do?
Future CFO
JUNE 12, 2023
Editors’ note: Steve Vintz (pictured), CFO at Tenable — an exposure management company — shared with his professional peers what they can do when it comes to mitigating cyber risk. Steve Vintz, CFO, Tenable FutureCFO: What's the role of CFOs in mitigating cyber risk now?
Cyber, business interruption remain top global corporate risks
CFO Dive
JANUARY 18, 2023
Risk management leaders remain highly concerned about the threat of malicious attacks and data breaches, according to Allianz Global.
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Cyberattacks pose biggest business threat, small companies say
CFO Dive
APRIL 12, 2024
Small businesses in professional services are more concerned about cyber risk than those in manufacturing or other services, the U.S. Chamber of Commerce said.
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The CFO’s role in curbing third-party cybersecurity risk
CFO Dive
APRIL 16, 2024
With vendor-related cyber risks spiking rapidly, the stakes are too high for CFOs to treat the issue as merely an IT concern, writes cybersecurity consultant AJ Yawn.
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CFOs in Asia Pacific woefully uninformed about cyber security risk
Future CFO
SEPTEMBER 16, 2022
CFOs in Asia Pacific are rarely informed by information security teams about cyber security risks despite being confident in their company’s ability to respond to an incident, said Kroll recently. CFOs can participate in cyber security planning at multiple layers in the company,” he advised. Global findings.
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Cyber Threats To Client Wealth And Well-Being: Why And How Wealth Managers Will Soon Play A Key Role In Managing These Risks
Nerd's Eye View
MARCH 15, 2023
Risk management is a key part of many financial advisors’ value propositions. At the same time, clients face another class of risks that advisors often do not consider: cyber. using a client’s personal information for financial gain or other purposes), reputational risk (i.e.,
The Uncharted Territory Of M&A Cyber Risks
PYMNTS
FEBRUARY 28, 2019
While corporate mergers can drive business growth, they are also rife with risks and disruption for organizations, from a reshuffling of executive teams to problems with integrating complex, siloed systems from one company into another. ” Business Partners At Risk. . ” Business Partners At Risk.
Companies need to align efforts at disclosure, cybersecurity: SEC attorney
CFO Dive
MAY 13, 2022
The SEC aims to protect investors from cyber-related risks by cracking down on companies that release misleading disclosures about cyberattacks, according to the top attorney in the agency’s Crypto Assets and Cyber Unit.
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New Zip file phishing trend threatens cybersecurity
CFO Dive
OCTOBER 31, 2022
Organizations are at an increased risk of cyber attacks with this new popular phishing technique that does not require a password.
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Cyber premiums spike at slower pace in 2022: Fitch
CFO Dive
APRIL 18, 2023
The deceleration was driven by factors such as a moderation of ransomware incidents and a heightened level of cyber risk awareness among corporate executives, according to Fitch Ratings.
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CFO, CIO relationship key to optimize tech spend
CFO Dive
FEBRUARY 21, 2023
Nearly half of execs expect cyber attacks on financial data to increase in 2023, but the majority of finance leaders don't have consistent communication with their CIO to mitigate this risk.
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Cyber risks biggest threat faced by Indian organizations: Survey
CFO News
DECEMBER 25, 2023
To address the challenges, Indian organisations are making bold investments in cybersecurity with more than half of the respondents planning to invest in cybersecurity tools (55 per cent) and AI, machine learning and automation technologies (55 per cent) in the next 1-3 years, according to survey findings.
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US cyber insurance premiums exceeded $7.2B last year
CFO Dive
MAY 16, 2023
Despite sharp price increases over recent years, cyber insurance is in high demand as a risk mitigation strategy, according to Fitch Ratings.
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Cyber insurer Resilience raises $100M in expansion bid
CFO Dive
AUGUST 8, 2023
The funding is expected to help accelerate the company’s global expansion and scale the adoption of its recently-launched cyber-risk platform.
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Total 2022 U.S. cyber insurance premiums exceed $7.2B
CFO Dive
MAY 16, 2023
Despite sharp price increases over recent years, cyber insurance is in high demand as a risk mitigation strategy, according to Fitch Ratings.
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Is Your Board Prepared for New Cybersecurity Regulations?
CFO News Room
NOVEMBER 12, 2022
Boards have a particularly important role to ensure appropriate management of cyber risk as part of their fiduciary and oversight role. Most organizations we’ve studied focus on cyber protection rather than cyber resilience, and we believe that is a mistake. That makes the focus on resilience more important.
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Software Co RiskLens Raises $20M To Mitigate Cyber Risk For Businesses
PYMNTS
APRIL 8, 2019
RiskLens, a cyber risk management software company, has raised $20.55 RiskLens has forever changed the way large organizations assess, manage and report on cyber risk, by translating the impact of threats and vulnerabilities into the financial language of the business that everyone understands: dollars and cents,” Sanna said. “We
In The UK, Growing Awareness Of Cyber Risk May Not Be Enough
PYMNTS
SEPTEMBER 21, 2016
Slowly but surely, cyber risk is gaining increased attention in the United Kingdom. In its UK Cyber Risk Survey Report for 2016, Marsh found that, in response to queries over attitudes towards cyber insurance, awareness among U.K.-based Could complacency be a risk in itself?
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Big Four set for another wave of partner poachings
CFO News
APRIL 7, 2024
Deloitte's actions exemplify this trend, hiring over 50 lateral partners in the past year, with nearly half from rival firms, particularly bolstering cyber, risk, financial services, and tech divisions
98 HP Fights Cyber-Risk Linked To Billions Of Enterprise Devices
PYMNTS
APRIL 11, 2018
HP is deploying a Device-as-a-Service (DaaS) offering to enhance corporate customers’ risk management and IT security, the company said Tuesday (April 10). HP’s DaaS solution links businesses with multi-OS (operating system) device management support and risk analytics capabilities, the firms explained.
The Importance of Cybersecurity in Private Equity Investments
E78 Partners
APRIL 9, 2024
However, the technological advancements accompanying this growth also open the door to many potential cyber threats targeting sensitive data and critical assets. The Critical Role of Cybersecurity Recent cyber threats have underscored the significance of cybersecurity in private equity investments.
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The CFO, Digital Transformation and AI
Future CFO
MARCH 13, 2024
The central theme for CFOs is the need for finance leaders to primarily trust in their systems and data outputs, proactively address emerging risks, and identify the right talent in order to capitalise on the promise of AI and these transformational systems. Cyber security and integrity issues are also of concern,” says Deshpande.
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Boston Fed Takes On Cyber Risks, FinTech Competition
PYMNTS
APRIL 5, 2016
Federal Reserve Bank of Boston President Eric Rosengren delivered a speech yesterday (April 4) at the bank’s 2016 Cybersecurity Conference highlighting the economic and cyber risks financial institutions are facing today. However, this rapid evolution generates risks,” Rosengren said.
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Managing the rising cost of cybersecurity: Strategies for CFOs
CFO Talks
FEBRUARY 9, 2024
Cybersecurity has become an increasingly critical concern for businesses across the globe, with cyber threats evolving in sophistication and frequency. The “deepfake CFO scam in Hong Kong” is a stark reminder of the financial risks posed by cyberattacks, with companies facing significant monetary losses and reputational damage.
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Organisations to make use of generative AI for cyber defence
Future CFO
OCTOBER 15, 2023
Senior executives in companies are looking into using generative artificial intelligence for cyber defence in the next 12 months, according to a survey by PricewaterhouseCoopers International. Companies are in need of establishing sound AI governance to get ahead of risks that come with the exploration of the technological development.
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How CFOs and businesses should mitigate cybersecurity risks in 2024
Future CFO
JANUARY 29, 2024
CFOs and businesses should expect higher cybersecurity risks in 2024 such as more large-scale cyberattacks on supply chains and critical infrastructure, said Kaspersky recently. Factoring the escalating and unavoidable risk of cyber threats into security budget. Creating awareness among employees.
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PodChats for FutureCFO: CFO strategies against ransomware
Future CFO
NOVEMBER 7, 2021
According to James McLeary , managing director for Cyber Risk at Kroll , some cyber threats are very technical in terms of response. Or is it our risk appetite, that we will not pay to two such ransomware requests?’ [If How involved is the CFO in cyber threats. Yes, we will pay, but do we have the ability to pay?’”
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Average ransomware payment in Singapore hits US$1.16M
Future CFO
MAY 19, 2022
Many organisations rely on cyber insurance to help them recover from a ransomware attack — 86% of mid-sized organisations had cyber insurance that covers them in the event of a ransomware attack. It’s also an option fraught with risk, he warned. In almost all incidents, the insurer paid some or all the costs incurred.
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Impact of a major cyber incident: 9% drop in shareholder value
Future CFO
AUGUST 9, 2023
The impact of a major cyber incident is on average a 9% drop in shareholder value — over and above the market — in the year following the event, said Aon recently when releasing its 2023 Cyber Resilience Report. Systemic risk: Managing systemic risk is a high priority, stemming from the use of technology in an interconnected world.
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How a good cybersecurity plan can save money and time
Future CFO
NOVEMBER 9, 2023
With the advancements in technology coming in left and right, cyber risks are constantly looming over the head of financial leaders. Minimise costly remediation Dealing with the aftermath of a cyber incident can be expensive. This includes expenses for investigating the breach, restoring compromised systems and legal fees.
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The promise of generative AI for cyber security
Future CFO
OCTOBER 16, 2023
With great advancements in technology come greater risks posed on organisations around the world. From reconnaissance to action, generative artificial intelligence can be useful for defence all along the cyber kill chain. Cyber risk and incident reporting Generative AI promises to make cyber risk and incident reporting much simpler.
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Two things that top the global directors' list of key risks
Future CFO
MAY 1, 2022
Cyberattacks and data loss are the key risks facing directors and officers, with cyber extortion and the growth of ransomware attacks a leading concern, said WTW recently when releasing results of a global survey. There is some divergence between the risks perceived for businesses and the risks perceived for directors and officers.
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The top risks for 2024
Future CFO
DECEMBER 11, 2023
When it comes the top risks for 2024, economic conditions and inflationary pressure emerge as the top near-term concerns for the year, said Protiviti recently when releasing results of a survey conducted together with the NC State University Poole College of Management's Enterprise Risk Management (ERM) Initiative. Cyber threats 4.
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CFOs: Cyber defence cost rising but effectiveness dwindling
Future CFO
OCTOBER 11, 2023
While cyber defence cost is increasing, just one in five cybersecurity leaders considers their organisation’s defence approach to be effective, said EY recently. They appear almost twice as likely to be highly concerned about cyber risks from their supply chain (38%) and related risks, such as intellectual property protection (38%).
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The top risks facing directors
Future CFO
MAY 7, 2023
The top risks facing directors include economic and cyber risks particularly those associated with data loss and ransomware, said WTW and Clyde & Co recently. Among the top risks facing directors, geopolitical risk grew in importance, moving up to 4th place from 6th last year, WTW pointed out.
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CFOs: Have your organisation prioritised cyber resilience?
Future CFO
JUNE 13, 2023
Is cyber resilience a priority of your organisation? In the face of a pervasive and persistent threat, the true goal for cybersecurity operations beyond detecting and stopping threats is cyber resilience, Kaspersky noted. An IDC Analyst Brief — titled Building Cyber Resiliency in a Digital-First Era — indicated 52.6%
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Cybersecurity: It Takes Two to Tango
CFO Simplified
APRIL 10, 2022
The dangers of cyber threats are at an all-time high. With these statistics in mind, it’s important to start working toward mitigating your business’ cyber risk today. The truth is that 60% of small businesses that fall victim to a cyber-attack close their doors within six months. million crypto hacking attacks, 4.8
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Almost 9 out of 10 CEOs see Indian economy growing, to step up hiring: PwC Survey
CFO News
JANUARY 16, 2024
India CEOs believe cyber and health risks along with inflation are the three key threats in the next 12 months, resulting in greater impetus to reinvent.
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The top 10 opportunities for AI
Future CFO
MARCH 28, 2024
According to the EY report, the top 10 opportunities in this field are: Inject GenAI into digital transformation strategies and establish a “control tower” Experiment with GenAI in targeted front-office and back-office use cases Invest in new forms of digital infrastructure in the burgeoning “edge economy” Establish additional supply lines in emerging (..)
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Today in Data: Cyber Risks and Secrets
PYMNTS
JUNE 26, 2017
While data security these days is at a much higher scrutiny than possibly any time in the past, thanks to connected devices, some companies are unlocking their secrets. It’s being reported that Russian authorities are asking western tech companies for source code in order to review it before products can be sold in the country.
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#249 – Fraud in a Changing Treasury Landscape Episode 1: Are You Implementing Thoughtful Security?
Strategic Treasurer
APRIL 17, 2023
Access Report Security Standards Are Shifting: A Series on Cyber Security Host Craig Jeffery sits down with Jonathan Doskocil of TD Bank and Christopher Gerda of Bottomline Technologies for the second conversation in this series concerning cyber security.
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Major cybersecurity trends in 2024
Future CFO
OCTOBER 26, 2023
Fighting fire with fire: Just as we have seen cybercriminals tap into the potential of AI and ML, so too will cyber defenders. Data Risks Amidst Ransomware Defences Despite organisations bolstering their defences against ransomware, incidents of data loss or leakage are likely to ascend.
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