About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Corporate Boards Vulnerable to Hacking and Information Theft, Says Thomson Reuters Survey

Subscribe to our newsletter

Most major corporations surveyed have significant security gaps that leave sensitive board-level information open to information theft and hacking. Those are among the findings of a new survey of board members of UK and global corporations conducted by Thomson Reuters Governance, Risk & Compliance.

The findings are particularly noteworthy in light of recent news stories about the handling of board communications involving executive succession decisions at companies including Yahoo and Apple.

The survey found that information provided to members of corporate boards of directors is often in unencrypted email accounts and computers, or otherwise provided in forms that are easily lost, misplaced or stolen. The Thomson Reuters Governance, Risk & Compliance survey polled general counsel and board members at leading global corporations across a wide variety of industries.

Most corporations surveyed have one or more of the following potential security issues involving information provided to board members:

85% Unencrypted board communications

79% Board documents stored on personal computers at home or work

75% Board documents stored on personal mobile devices (e.g., iPad, laptop, smartphone, etc.)

73% Documents sent to board members via personal, non-commercial email addresses

71% Board documents accessible via wi-fi or unsecured networks

10% Have reported computer, mobile devices, or sensitive company documents lost, stolen or left in public places

Another vulnerability is in the area of legal discovery, as most corporations are not accounting for all of the computing devices that board members are using to access and store board documents. The discovery process would then require a canvassing of computers, files and other data storage maintained by board members at their homes or businesses.

“Communications and information handling with board members represents a weak link in the chain of corporate information security,” said David Craig, president, Thomson Reuters Governance, Risk & Compliance. “Boards of directors handle some of their companies’ most critical and sensitive information, including business strategies, discussion of executive hiring and compensation, legal issues, internal investigations and more.

“While most corporations take extraordinary measures to protect information shared with executives and employees, board members – often being outside directors – operate largely outside of a corporation’s secure computer networks and many of their strict internal security policies. The survey found that information given to the board is treated with inadequate levels of care and security with alarming frequency, placing information at risk of loss, theft and exposure.

“In addition, because of the increasingly global nature of boards,” continued Craig, “members often have to travel considerable distances to attend board meetings and functions, providing numerous opportunities for papers, briefcases, laptops and mobile devices to be physically lost, stolen or exposed to hazards such as hackers and unsecured networks.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking Transparency in Private Markets: Data-Driven Strategies in Asset Management

As asset managers continue to increase their allocations in private assets, the demand for greater transparency, risk oversight, and operational efficiency is growing rapidly. Managing private markets data presents its own set of unique challenges due to a lack of transparency, disparate sources and lack of standardization. Without reliable access, your firm may face inefficiencies,...

BLOG

Tracing Data’s Transformation is Key to Compliance and AI Effectiveness: Webinar Preview

Transparency and accuracy are characteristics of data that are equally important for financial institutions’ compliance processes and the rollout of artificial intelligence applications. Without those qualities, regulators will have little trust in the disclosures of firms’ compliance teams and any AI technology will be prone to misleading and potentially damaging outputs. To ensure these two...

EVENT

Eagle Alpha Alternative Data Conference, London, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...