UK Boards Fail to Handle Cyber-risk, Especially at Telecoms

UK boardrooms are struggling to cope with cybersecurity risk, especially in the telecoms and utilities sectors, where exposure is dramatic. Overall, a lack of expertise and awareness continues to plague businesses in key sectors.

A new study from CGI reveals that a full 38% of C-suite executives in UK telecoms, utilities, financial services and retail sectors believe a cybersecurity breach at their organization is likely over the next 12 months—at an average total cost over a one-year period of £1.2 million. But too few of them have real cybersecurity expertise.