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Cybersecurity in Focus for Companies as Online Threats Surge
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Quote:Boards must make sure corporate tech systems are up to date, security experts say

Companies are finding that managing cybersecurity threats as one of many business risks better prepares them against a rising number of attacks, including potentially damaging ransomware incidents.

Information-technology executives at companies including Alphabet Inc.’s Google and TIAA Bank say viewing escalating assaults on computer systems as a corporate risk can lead to much-needed investments in technology. It also cultivates cybersecurity awareness among senior leadership and junior employees alike. Such efforts are most effective when senior leadership backs them, tech and security executives say.

The number of reported cyberattacks on U.S. companies rose 69% in 2020 from the previous year, according to the Federal Bureau of Investigation. Companies face growing pressure to fortify their defenses in the aftermath of recent large-scale incidents, such as May’s ransomware attack on Colonial Pipeline Co. that disrupted the flow of fuel from refineries in Texas to the eastern U.S.

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