Despite highly publicized data breaches at companies such as Citigroup and Sony, most businesses remain woefully underprepared to deal with cybercrimes and other IT-related risks.
"I don't know a single company that has mapped out all the jurisdictions where it does business, what the cybercrime laws are there, and the proper points of contact" should an incident occur, says Jody Westby, CEO of consultancy Global Cyber Risk.
A recent survey by Carnegie Mellon CyLab found that only a third of Fortune 1000 boards had focused on guarding against the most critical privacy and security risks, which today typically stem from breaches of a company's IT system.
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