Survey reveals increased cyber threats and regulatory concerns
- Nine out of 10 compliance professionals surveyed said cybersecurity risks increased
- Nearly half of companies reported a substantial rise in cybersecurity risk
- Midsize companies felt the greatest increase in cyber threats
- Regulatory scrutiny and enforcement were major concerns for compliance professionals
- Diversity and inclusion risks were lower on the radar
- Many compliance professionals lacked expertise in overseeing cybersecurity compliance
- Geopolitical concerns, such as the Russia-Ukraine conflict, impacted business risks
- Supply chain risks increased for nearly half of the respondents
- AI tools for compliance were not widely adopted, but interest was growing
According to a survey of compliance professionals by The Wall Street Journal, cybersecurity risks have risen for businesses over the past year. Nine out of 10 companies reported an increase in cyber threats, with nearly half experiencing a substantial rise. Midsize companies, particularly those with revenue between $50 million and $1 billion, felt the greatest increase in risk. Regulatory scrutiny and enforcement were also major concerns for compliance professionals, while diversity and inclusion risks were lower on the radar. The survey also highlighted a lack of expertise in overseeing cybersecurity compliance among many professionals. Geopolitical concerns, such as the Russia-Ukraine conflict, impacted business risks, including supply chain disruptions. Additionally, the adoption of AI tools for compliance was not widespread, but interest in the technology was growing.
Factuality Level: 8
Factuality Justification: The article provides detailed information about the increase in cybersecurity threats for businesses based on a Wall Street Journal survey of compliance professionals. It includes statistics, survey methodology, and specific examples to support the claims made. The information is relevant, well-researched, and objective, without including any significant bias or misleading information.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in cybersecurity threats for businesses based on a Wall Street Journal survey of compliance professionals. It includes details on the survey methodology, key findings, and implications for companies. The article also touches on other major concerns such as regulatory scrutiny, digitization, and geopolitical risks. It offers insights into the challenges faced by compliance professionals and the impact of geopolitical events on businesses. The information is supported by data from the survey, making the article informative and actionable for businesses looking to enhance their cybersecurity compliance programs.
Financial Relevance: Yes
Financial Markets Impacted: The article mentions that cybersecurity threats have increased for businesses, which can have an impact on the financial markets. Companies in the financial services sector, as well as other sectors such as professional and business services and technology, are mentioned as being affected by cybersecurity risks.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: There is no mention of an extreme event in the article.
Public Companies: MGM Resorts International (MGM), UnitedHealth Group (UNH)
Key People:
Reported publicly:
www.wsj.com 
