How can underestimating cyber risks lead to catastrophic business failures, and how can Boards and C-Suites fix this issue?

Join us on #CyberBoardCast™ with Andrzej Cetnarski, Episode 241, as we explore the dangers of underestimating cyber risks and how Boards and C-Suites can address this critical issue to prevent catastrophic business failures.

Ep241: Board Cyber Mistake #1: Underestimating Cyber Risks and How to Fix It (2024.06.12)

Recognizing cyber risks as strategic business risks rather than just IT issues is crucial. Complacency in this area can lead to inadequate attention and resources being allocated to cybersecurity, which in turn can result in catastrophic business failures.

Let’s consider UnitedHealth Group's 2024 cyberattack. The company underestimated cyber risks, which led to a significant breach affecting millions of dollars in claims. The incident had severe financial repercussions and caused considerable disruption in healthcare services, highlighting the importance of understanding and preparing for cyber risks.

Discover why underestimating cyber risks can be so dangerous and learn how to effectively address this issue. In our next episode, we’ll address Mistake #2 – lack of cybersecurity expertise on the Board and how to permanently fix it.

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