This article has been indexed from BitSight Security Ratings Blog
The red lights are flashing everywhere. News stories are warning about a sharp rise in ransomware attacks, a 2000X fold increase in cybersecurity breaches, and more cyber-related doomsday scenarios. Meanwhile, the Biden Administration released a much-anticipated cybersecurity plan earlier this year, calling for more investments in cybersecurity.
With new threats circling and the president’s call for additional cybersecurity resources, one would think that cybersecurity funding has increased across the board. Think again. According to McKinsey, more than 70% of CISOs and security buyers anticipated their budgets shrinking last year — and this is during the pandemic.
Clearly, many executives still do not understand the importance of cyber risk management. It’s almost as if we need a “cybersecurity for executives” 101 course. In absence of that, let’s talk about why it’s still so difficult for some C-level executives to embrace the need for a better cybersecurity posture.
Read the original article: Cybersecurity for Executives: How to Talk About Risk Management