Reports: Cybercrime becoming an audit committee focus

Cybercrime is becoming more sophisticated; as a result, corporate audit committees are focusing on cybersecurity and how it protects the company's financials, according to a report by security firm Kroll. Cyberattacks could lead to regulatory issues and shareholder lawsuits, it noted. Another report by Experian predicts more companies will add cyberinsurance to their coverage packages next year, compared with the one-third of companies that currently have this insurance.

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