Institutional investors are pressing for company boards to sharpen up their cyber-security knowledge and practices, according to a new report conducted by FTI Consulting on behalf of KPMG.
Investors take the issue so seriously that a cyber-attack could even cost a business its financial backing, according to KPMG. The report found that 79 percent of these investors would be discouraged from investing in a business that had been hacked. The report is based on a survey of 133 institutional investors from around the world who together manage over US $3 trillion worth of investments.
“Investors see data breaches as a threat to a company's material value and feel discouraged in investing in a business that has had its sensitive information compromised,” said Malcolm Marshall, global leader of KPMG's cyber security practice.
You can read the full article on SC Magazine here.