Your organisation’s board plays a critical role in guiding your business to new heights – but it is also putting your organisation at risk.
Most risk management is focused on your employees and their daily operations, while ignoring that your board members are also potential attack vectors.
Your board is handling disproportionately important and sensitive information – making it a particularly appealing target for cyber criminals.
It is therefore important to understand which board member actions represent risk to your organisation, which is why we have detailed the most prominent cyber risks boards face in South Africa, below.
Unsecured emails
Emails are commonly used by board members to send sensitive files.
This can include minutes, board packs, resolutions, and board member data – all of which are landing in each board member’s inbox.
If one board member is successfully exploited by a malicious party, all this information can land in the hands of your competitors – or can be used to continue attacking your organisation over time.
It is therefore critical that you ensure each board member’s email account is properly secured, all board members understand the risk of phishing, and whenever possible, important files are shared through more secure means – such as through a dedicated secure platform.
General cybersecurity
Board members are at the same risk of cyber attacks as any other professional.
From downloading malware from untrusted websites, to using weak passwords, to not using 2FA, to not using two-way encryption services to transfer files – there are endless ways your board members can be exploited by criminals.
It is also important for board members to be responsible with their physical devices – such as not leaving them unattended, and not using an auto-lock feature on their laptop to ensure it isn’t accessed by an unauthorised individual.
Not having a response plan
Finally, many boards operate without a formal incident response plan.
You must be prepared for the reality that a breach may happen – even if you have implemented a robust cybersecurity strategy.
You should not be problem-solving how to handle a breach after it happens – you must have protocols and infrastructure in place to handle it.
Use a secure board portal
There is one solution that can help you with all these risks: a secure board portal.
This portal must centralise documents, control access, and reduce your board members’ reliance on unsecure communication channels.
A secure board portal will also implement robust encryption standards, password policies, and monitoring mechanisms to give you the best chance.
AgendaWorx provides a secure, purpose-built, and AI-powered platform designed specifically for boards and governance structures.
Alongside the above security features, it also provides extensive useful functionality to streamline your board’s meetings and operations.
This includes the ability to:
- Pull key details from budgets, rules, policies, and meeting discussions instantly.
- Process and analyse your financial reports to find opportunities for improvement.
- Break down complex contracts in simpler terms.
- Check SLAs from service providers.
- Create action reports from meeting minutes.
- And much more.
