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The CEO Is Next

June 12, 2024
Contributed by: Drex DeFord
The commentary discusses the increasing likelihood of government agencies holding CEOs personally accountable for insufficient corporate investment in cybersecurity. Historically, consumers bear the brunt of cyber breaches through stolen identities and financial losses while companies recover quickly. Governments traditionally ensure public safety in exchange for contributions, but the digital age has complicated this with private companies holding sensitive data. The Biden administration's National Cybersecurity Strategy pushes for corporate accountability, exemplified by the SEC’s actions against SolarWinds. The current focus on CISOs is seen as flawed, with many fearing personal liability and opting out of their roles. Increasingly, the shift is moving towards CEOs being held liable, emphasizing the need for them to prioritize and understand cybersecurity investments actively.
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