Cybersecurity: What CEOs Need to Know

CEOs have a lot to think about. They guide the trajectory of a company, work to strengthen its public perception and ensure that their business is happy and healthy. Unfortunately, however, CEOs sometimes neglect their own cybersecurity which can negatively affect their organization.

Below are a few things CEOs ought to keep in mind regarding digital resilience. Of course, cybersecurity insurance is an important factor in the equation. Visit CyberPolicy for more information.

Cybersecurity Is Weakened While Traveling
As a CEO, you might spend at least some of your time traveling for work. But did you know that this could expose you to greater cyber risks? It's true!

Take for instance free public Wi-Fi which can be used in coffee shops, airports or hotel lobbies. While this is a major convenience for business travelers, it could expose your data and online movements to digital eavesdroppers. Similarly, lost or stolen devices often find themselves in the wrong hands.

If CEOs want to keep their data safe from prying eyes and greedy hands, they ought to connect to a virtual private network, use passwords on all their devices, use a device tracker or remote wipe feature in case their devices are stolen and keep their luggage close to prevent theft.

Cybersecurity Incidents Hurt Public Perception
One of the duties of a CEO is to promote their company's brand in a flattering way. Perhaps you are an industry giant that wants to appear stable and trustworthy; or maybe you are a startup that wants to seem nimble and innovative.

Whatever the case may be, you won't hold onto this reputation for long if you are struck by a malicious cyberattack (or worse, multiple cyberattacks). Clients and partners won't want to do business with a company known for weak digital defenses or leaking customer information. So, do yourself a favor and invest in a robust cybersecurity strategy.

CEOs Are Leaders in Company Culture
Believe it or not, company culture has a lot to do with the security of your company. In fact, research shows that the majority of data breaches are linked to employee negligence.

Thankfully, organizations can turn this trend around by demonstrating top-down leadership. For example, businesses ought to host quarterly cybersecurity training sessions which encourage CEOs and other heads of staff to discuss difficulties they have had with cyber threats and how they overcame issues in the past.

CEOs Are Prime Targets for Social Engineering Scams
It's sad to say, but CEOs are hot targets for cybercriminals. One of the ways hackers can infiltrate a CEO's network or devices is through social engineering scams. Basically, the scammer pretends to be someone else (a coworker, a family member, an employee of the DMV, etc.) in order to coax the target into reveal personal or financial information online or over the phone.

Spear phishing is a similar scam that entices web users to share classified documents, passwords or other sensitive information with the attacker.

As a CEO, you should be especially aware of the kinds of threats and their warning signs. Otherwise you could be in for a world of trouble.

But even if an attacker is able to get their hands on your laptop or crack your email password, you should know that your cybersecurity insurance partner is there to help.

Don't have a partner yet? CyberPolicy can set you up with a reputable provider in a matter of minutes. Just visit our homepage today!

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