Spending on cybersecurity products and services is expected to top 123
billion U.S. dollars for 2020, more than double the 55 billion U.S. dollars
spent in 2011.1 In that same period, cyber breaches quadrupled. Organizations
globally face increasing liabilities, while boards of directors grapple with a
seemingly Sisyphean challenge. Cyber Crossroads was born out of these alarming
trends and a realization that the world cannot go on funneling finite resources
into an indefinite, intractable problem. Cyber Crossroads brings together
expertise from across the world, spanning aspects of the cyber problem
(including technology, legal, risk, and economic) with the goal of creating a
Cyber Standard of Care built through a global, not-for-profit research
collaborative with no commercial interests. A Cyber Standard of Care should be
applicable across industries and regardless of the organization size. It should
be practical and implementable, with no requirement to purchase any
product/service. Cyber Standard of Care should be woven into the existing
governance fabric of the organization and it should not be yet another
technical checklist, but a process/governance framework that can stand over
time. To achieve this, we engaged with cyber risk experts and practitioners
with a variety of relevant expertise, secured the advice/guidance of regulators
and legal experts across jurisdictions, and interviewed leaders from 56
organizations globally to understand their challenges and identify best
practices.

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