, Columnist
Cybersecurity Needs Its Own Sarbanes-Oxley
Corporate executives require far more incentives to take information security seriously. The threat of jail may help.
Information security needs stringent rules.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Two decades ago, a cascade of accounting scandals in the US led to one of the most comprehensive packages of financial rules of the past century. Now, it’s time for regulators to act on escalating cybersecurity breaches to offer similar protections to consumers and investors.
Within the span of just two years, the names Enron, Tyco and Worldcom became synonymous with fraud, greed, and corporate excess. Executives had doctored financial reports, stolen money, and conspired to keep shareholders in the dark, all the while receiving “almost embarrassingly big” pay packages.