The expectation that digital business will be a successful consumer business model relies on IoT devices being "always available." An interruption at any point during the end-to-end transaction process means that business transactions may not be completed, thereby negatively affecting customer allegiance and the revenue stream expected from the digital business offering.

As a result, the standard of due care for security program maturity will increase, with risk, security and BCM leaders getting more pressure and more support from executive boards than ever before. Executive boards have increased their attention on cybersecurity since 2012, but new revelations of business disruption attacks provide a fresh opportunity to build the new business case for cybersecurity investment and institutionalize more-proactive thinking about cybersecurity risks.

"CISOs and chief risk officers can and should persuade executives to shift their thinking from traditional approaches toward risk, security and business continuity management. Security is not a technical problem, handled by technical people, buried somewhere in the IT department," said Mr. Proctor. "Organizations need to start solving tomorrow's problems now."

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