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Corporate Cyber Security: A CFO duty

Bhavesh Khanvilkar 
on 15 June 2020

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This week one of my friends called me and informed me that Rs. 10,000 was robbed from her bank account due to Cyber fraud, another friend called me and shared his experience, how he received a fraudulent call when he was working form home and tried to get access to company's server and database. This experience has scared and alerted me that this can happen with me and with anyone at any point in time.

Especially for the organisation, cyber threats are tremendous.

Corporate Cyber Security: A CFO duty

This kind of cyber attacks can cripple a company's operation and even threaten its very existence. As a company's de facto risk officer, CFO s must have to analyse the cyber threats and have to come up with the cyber-security plan as during these pandemic days where everyone is working from home, the threats have multiplied massively.

India is not only emerging as a top country in COVID 19 cases but also as the third-biggest target for cyber attacks after USA and China. Now the world will become more digitized hence these threats will endanger not only result in commercial losses but creates a lot of legal issues.

 

Hence CFO, CIOs in the company has to collaboratively plan out in advance how the company will respond to these cyber breaches.

Now more and more employees are working and will be working from home, Hackers are shifting their targets, from corporate networks to corporate individuals, so the organization has to develop training and awareness programmes amongst the employees.

It's really an action time to seriously plan out and take action, as hackers have already decided their strategies and armed themselves with most sophisticated tools.

Hence, let's get into action corporate superheroes and stop these cybercriminals.

 

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