Audit Committee Leadership Summit, August 2022
Large, global companies increasingly face attacks from both criminals and nation-states whose motives reach beyond financial gain and include economic espionage and disruption of physical security. The US Federal Bureau of Investigation (FBI) is a critical partner for companies as they respond to these attacks. Geopolitical tensions and technological developments present new risks in these areas, and corporate directors are interested in how they can most effectively collaborate with the FBI.
On June 29–30, 2022, members of the North American and European Audit Committee Leadership Networks (ACLN and EACLN) met with FBI Director Christopher Wray for a discussion on the overall threat landscape and its impact on global companies. They particularly focused on the heightened risks posed by cybercriminals and China.
Christopher Wray became the eighth director of the FBI in August 2017. His professional career has spanned both the private sector and federal government service, including serving as a partner with the law firm King & Spalding, where he represented Fortune 100 companies, and leading the Criminal Division at the US Department of Justice (DOJ) while also playing a key role in the DOJ’s evolving national security mission.
This ViewPoints summarizes three key themes that emerged from the discussion:[i]
- Cyber threats and economic espionage are top concerns for both companies and the FBI
- Boards need to stay educated on China
- Effective cybersecurity relies upon partnership and information sharing
[i] ViewPoints reflects the network’s use of a modified version of the Chatham House Rule whereby names of members and their company affiliations are a matter of public record, but comments are not attributed to individuals or corporations. Quotations in italics are drawn directly from members and guests in connection with the meeting but may be edited for clarity.