Cyber crime on track to be the world's 3rd largest economy

Cyber criminals, in 2021, will steal $6 trillion, according to Cybersecurity Ventures. That's up from $3 trillion in 2015.

The Harvard Business Review made five recommendations for how CEOs can mitigate the risks to their reputations and bottom lines:

1. Elevate the priority of security on your agendas. Be aware of the scale of the problem and the likelihood of being attacked.
2. Talk about risk and return on investment. It's not easy to strike a balance between risk priorities and effective controls.
3. Find a security champion. Remember that IT can only do so much; you need to build a security culture, starting at the top.
4. Don't rely overly on cyber insurance. Prevention, rapid response and operational resilience are your best defences.
5. Be agile. Keep reviewing and improving what you are doing. Security decisions should be informed, strategic and measure risk and return.

Read the full HBR article here.