Boards Are Falling Short on Cybersecurity

At this point, most boards are convinced of the necessity for cybersecurity investments. They get that a serious cyber event is a costly, brand-damaging situation that can devastate operations, dismantle consumer confidence, and even conjure up existential concerns. However, as boards become more focused on cybersecurity, are they paradoxically getting worse at governing it? Year-over-year the cybersecurity situation keeps getting worse. For example, the 2024 FBI crime report, published last spring, revealed that cybercrime losses increased 33% compared to the previous year.