As the world becomes more interconnected, the number and scope of cybersecurity threats have multiplied. Cybersecurity breaches are no minor inconvenience. In 2021, 83% of organizations that manage critical infrastructure experienced a cyber attack. Yet, the biggest concern comes from the responses from company leadership.
That same study found that 73% of CISOs and CIOs indicated a high level of confidence that their company would not be victims of a breach in the coming years. This considerable disparity between the perception and the reality of threats has signaled to regulators a need for change. Regulators have begun to instill stricter regulations, holding companies and therefore CISOs accountable for ethical and timely disclosure of cyber breaches.