A report released by the World Economic Forum prepared in collaboration with Deloitte said that the evolution in cyber attacks requires CEOs to take ownership of cyber risk management.

“The impact of hyper connectivity requires attention from the highest echelons of the corporate world,” said Mr Jolyon Barker, Managing Director, Global Technology, Media and Telecommunications, Deloitte Touche Tohmatsu Ltd.

“It is imperative for chief executives and boards to protect their enterprises from cyber risks and incorporate cyber security and resilience into their everyday decision-making processes.”