Are you a board member or thinking about joining a company board of directors? The stakes are getting higher and the responsibilities and duties of board members are more important than ever.
Boards of Directors are an elected or appointed body whose members oversee the activities of a company. Board members are required to act in good faith and have fiduciary duties – i.e. keeping the interests of shareholders ahead of all else. Usually, the CEO of a company serves on the board as well.
Boards often make corporate decisions that are highly confidential. They are often aware of very sensitive information, and communication among members must be accomplished in private. Leaked board-level discussions can affect a company’s stock price negatively. Whether an email was hacked into or an internal IT administrator viewed an email, a breach can have major consequences and financial fallout. This financial impact and fiduciary duty demand board members be versed in cybersecurity threats and ways to mitigate them. In fact, the UK’s House of Commons Committee on Culture, Media, and Sport recently suggested cutting a CEO’s compensation if a cybersecurity breach occurs which could have been prevented.
Biscom can help in both cases: secure board communication and cybersecurity risk reduction. Being proactive and deploying Biscom’s Secure File Transfer as both a secure email and file transfer solution, board members can send and receive message, documents, and other attachments without worrying about unauthorized access both internally and externally. Biscom also offers cybersecurity assessments and training to help companies implement good cybersecurity practices.
For more information about Biscom’s security solutions, contact us at [email protected]