Reuters: Investors still in the dark as cyber threat grows

* Survey of assets managers highlights weak disclosure

* Only three of Europe’s top 10 companies flag risk in report

* Boards urged to bring in tech-savvy executives

By Simon Jessop and Ross Kerber

LONDON/BOSTON, Aug 28 Investors are being poorly served by a haphazard approach from fund managers to the growing threat of cyber crime damaging the companies in which they invest, with a lack of clarity from the businesses themselves compounding the problem.

Banks have led the way in developing cyber defences and some top fund managers have ramped up pressure on companies to do more, but the broader picture is less encouraging.

“I don’t see any visible stand asset managers are taking, like they do on other social responsibility items,” said Malcolm Harkins, information security chief at U.S. cyber security start-up Cylance Inc.

The soft underbelly of companies outside the banking sector was exposed again this month when hackers leaked details of nearly 37 million clients of Ashley Madison. The infidelity website had to postpone its stock market listing and now faces a $750 million lawsuit.

 

Read the rest of this article at Reuters.

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