Nine out of 10 companies said cybersecurity risks rose, with nearly half saying the risk shot up substantially. Almost all midsize companies-those with between $50 million and $1 billion in revenue-said they felt cyber threats had increased.
Several high-profile hacks and regulatory changes have elevated the cybersecurity stakes. The U.S. is enforcing faster disclosure of cyber breaches, such as the SEC requiring reporting within four days of determining significant impacts.
Diversity and inclusion risks saw the smallest increase, with roughly one-third of companies perceiving a rise compared to the previous year. Contrastingly, cybersecurity risks showed a much higher surge.
The pressure on companies to handle cyber threats effectively has intensified, with mandatory reporting deadlines reducing after significant cyberattacks. Regulatory requirements are pushing for prompt communication and action against cyber incidents.
#cybersecurity-risks #midsize-companies #regulatory-changes #diversity-and-inclusion #disclosure-requirements
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