Over the last few years, the increasing incidence, complexity and reach of cyberattacks have captured headlines around the world. During this time, a lot has been said about the need to raise awareness of cyber security across the community. This paper discusses the risk and governance challenges confronting company boards and management in dealing with the evolving and ongoing threat posed by cyberattacks, and highlights some of the issues that boards and management will need to address sooner rather than later. The paper also examines the current regulatory approaches being pursued by international regulators as they take various steps to prevent and respond to cyberthreats to individuals and players within their financial markets. The paper concludes by examining the possible future direction of cyber security regulation and its potential implications for organisations.