Board members play a key role in ensuring their organisations are protected against cyber threats. They are responsible for setting the tone at the top and ensuring that cyber security is prioritised at the highest levels of the organisation. Legal and ethical responsibilities demand that board members stay informed about the cyber security landscape and the specific risks facing their organisations.
A devastating example would be the case of Uber's former security chief, Joe Sullivan, who was convicted for concealing a data breach. According to a testimony reported byCraig Clark, an in-house attorney at Uber, testified that this secrecy was approved by the "A-Team", which included ex-CEO of Uber, Travis Kalanick, who knew and approved the payment of a ransom to the hackers, which ultimately led to Uber being fined $148 million by the state as stated by the.
By the end of next year, three-quarters of the world’s population will be covered by data privacy laws, reflecting the global shift towards stringentThese global and local developments are driving the firming of cyber security governance, making it a critical area for organisations to focus on.Effective cyber security governance involves a combination of risk management, compliance adherence and strategic oversight.
Roles, responsibilities and authorities : Defines roles and responsibilities to foster continuous improvement and consistent performance assessments .
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Nigeria: Speaker Overrules Member Calling for Suspension of Cybersecurity LevyThe Speaker of the House of Representatives, Abbas Tajudeen, yesterday stepped down a motion calling for the suspension of the cybersecurity levy, which has sparked widespread dissatisfaction.
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Tinubu Suspends Cybersecurity Levy to Prevent Overburdening NigeriansDeji Elumoye, Chuks Okocha, Michael Olugbode, Emmanuel Addeh and Sunday Aborisade in Abuja
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Nigeria: Cybersecurity Levy Law Hurriedly Passed - - Ndume Commends Tinubu On SuspensionThe Chief Whip of the Senate, Senator Ali Ndume, has commended President Bola Tinubu for suspending the 0.5% cybercrime levy that was earlier announced by the Central Bank of Nigeria, CBN.
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Nigeria: 16 Banking Transactions Not Affected By New CBN's Cybersecurity LevyThe Central Bank of Nigeria (CBN) has ordered all banks to start charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country excluding 16 listed banking deals.
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Nigeria: 16 Banking Transactions Exempted From Cybersecurity LevyThe CBN directed all banks to charge a 0.5 per cent cybersecurity levy on all electronic transactions within the country
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Nigeria: CBN Directs Banks to Charge 0.5% Cybersecurity Levy On TransactionsThe levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution.
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