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The unfortunate truth is the management of cyber risk comes down to one factor, Money. Banks spend allot of it to manage cyber risk.
But, although banks are Critical National Infrastructure, they still rely on other services such as power, and water, without which they to fail. As was demonstrated in April, with the Iberia power outage.
When one considers the amount of work and effort banks put into managing cybersecurity risk. One has to ask how other industry sectors, such as retail, can afford the same levels of protection. They cannot. They have to find alternate, strategies to managing cyber risk, that are less costly. A reason why board governance of cyber risk is such an important constituent of the board conversation.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC
#cybersecurity #cyberriskmanagent #cyberregulation
https://lnkd.in/et57–qb
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