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“Cyberattacks are now the foremost risk to the global financial system, even more so than the lending and liquidity risks that led to the 2008 financial crisis, according to Federal Reserve Chairman Jerome Powell.” (CNN interview 2021)
Global organizations are facing growing cyber threats estimated to cost US $10.29 trillion by 2025 (Statista, 2023).
As fiduciaries, board members hold ultimate responsibility for the actions and governance of their organizations, including potential personal liability for breaches of fiduciary duties. In the United States, the financial impact of cyber breaches is significant, with organizations incurring costs between $4.2 million and $5 million per incident, highlighting the critical risks that boards must address.
Are you a board member seeking guidance to understand, manage, and effectively fulfill your cybersecurity-related fiduciary responsibilities in an increasingly complex threat environment?
Would you benefit from a more integrated approach to aligning your organization’s cybersecurity strategies with its overarching Enterprise Risk Management framework?
Do you and your fellow board members need a reliable method to continuously monitor your organization’s compliance and breach status at global, regional, national, or subsidiary levels?