Cyber security: the new challenge for company directors

ASX data shows that 80 percent of companies expect an increase in cyber risk over the next year, but who is responsible when cybercrimes occur?

The TC Beirne School of Law researcher said company boards must be proactive in protecting data and becoming cyber resilient.

 "Company directors have to be across so many risks and take responsibility for compliance with a large number of laws, but cyber and data security is one that is becoming increasingly important," Dr Voogt said.

 "Boards have to deal with the reputational fallout and shareholders may feel it in their pockets. "Each director has to consider what it is that they should do and know about cyber security and data protection."