As cyberattacks increase, governments globally are countering with cybersecurity regulations affecting Chief Information Officers (CIOs). MIT has tracked a 20% rise in data breaches from 2022 to 2023 and identified five key regulatory requirements CIOs need to address: maintaining a comprehensive software inventory (software bill of materials), implementing cybersecurity at product design stage (secure by design), prohibiting ransomware payments, enforcing data governance, and reporting cybersecurity incidents. Violation of these regulations can have substantial public and financial penalties.
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