7 in 10 business leaders are concerned about cyber attacks

In the wake of Russia’s invasion of Ukraine and the shift to hybrid working, the Institute of Directors has found that 72% of business leaders view cyber risk as a significant concern for their organisation, with 58% believing that the risk of a cyber attack on their organisation has increased.

In its poll of nearly 600 directors, the IoD also found that:

54% believe that every board member has enough expertise to understand the potential impact and value of cyber security in respect of their organisation
61% state that their organisation has appropriate controls and monitoring mechanisms in place which assure them that their cyber security measures are effective
46% state that their organisation ensures that cyber security is considered in every business decision
54% state that their organisation has an incident management plan in place for cyber attacks
46% state that their organisation is able to access cyber insurance cover
Dr Roger Barker, the Institute’s Director of Policy, said:

“The results of our survey provide evidence that many businesses are taking cyber security seriously. However, a higher level of awareness and expertise is needed on boards of directors in view of the unprecedented shift to home working and heightened geopolitical tensions."

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