Punish companies for cyber security failures, directors say

September 26, 2016

Companies should face severe financial penalties if they fail to keep customers’ data safe, a majority of directors believe, amid a spate of cyber attacks on big businesses.

Seven in 10 board members have demanded stricter punishment for those who fail to meet basic cyber-security requirements, according to research group ComRes.

The figures, due to be presented at the Institute of Directors Annual Convention on Tuesday by the FTSE 250 security company NCC Group, come in the wake of Yahoo revealing the biggest-ever cyber attack on a major company.