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FTSE 350 Boards Still Struggling with Cyber Awareness

March 06, 2019 / Phil Muncaster

UK boards are getting better at understanding cybersecurity as a strategic issue, but still lack crucial awareness of the impact of attacks on their organization, according to a new government report. The FTSE 350 Cyber Governance Health Check 2018 features data collected from interviews with the top 350 businesses in the UK, across multiple sectors. It found that although 72% of respondents now consider cyber risks to be “high” or “very high” in comparison to all business risk, only half (54%) claimed their board understanding of business-critical assets was “fairly comprehensive” or “comprehensive.” What’s more, only 16% claimed their board has a comprehensive understanding of the impact of loss or disruption associated with cyber threats. Unsurprisingly perhaps, those boards with a more comprehensive understanding of cyber threats and their impact have more extensive governance processes in place, the report continued. Further, w...