DECEMBER 2022CIOAPPLICATIONS.COM8CIO InsightsCXO InsightsIn My Viewnlike any other time in history, there is a risk to all organizations. Whether it is a single person small business, a non-profit, government agency or a large enterprise. This threat is so real that it can severely impact operations or reputation of the organization. The losses to the organization can be in the millions of dollars. It may even be so severe that the company may not ever recover.This threat is almost unavoidable due to the nature of doing business today. Every organization is on the internet in some form, and this connectivity comes with a risk. That risk is the looming threat of a cyber-attack on the organization.Due to this constant cyber threat, many experts, investors, security professionals and government agencies are calling for cyber risk as a new pillar of business. To support this new pillar the proper board governance of the organization is required.At any given time of the day, 100's if not 1000's or more scans per minute occur on any given internet connection. These scans are looking for a way to compromise the connection whether it is a business, a home, or a mobile device. Attackers are always looking for a vulnerability to get into an environment. In addition to the scans the company's email servers receive thousands of phishing and spam emails. Just waiting for a user to click on a link or open a malicious file that will provide access to the system.No organization is safe or immune from a cyber threat. Whether it is a criminal actor or nation state sponsored group they provide a persistent threat to everyone connected to the internet. Some organizations have large budgets and teams that CYBER RISK AS A CORE PILLAR OF BUSINESSMarc AshworthMARC ASHWORTH, CHIEF INFORMATION SECURITY OFFICER, FIRST BANKU
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