Cyber Threats and Realities for Treasury Departments – and Obstacles to Implementing Preventative Policies (I) (G) (F)

The facts: In 2022, cyberattacks happen every 39 seconds. 30,000 websites are hacked daily around the world. 64% of companies worldwide have experienced at least one cyber incident. 22 billion client, patient, member, employee records were breached (2021). Ransomware cases grew by 92.7% (2021). 94% of all malware is perpetrated through email, AND, approx. 24,000 malicious mobile apps are blocked daily online. And yet, some companies are still not implementing risk management strategies to minimize their exposure to quantitative and qualitative losses. Why? Treasury professionals are often caught between doing what they know they need to do to mitigate cyber risks and other mandates. They may even find well intentioned executive management hesitant to act for a number of reasons. This hard-hitting panel will explore the multitude of cyber risks facing companies today, how treasury leaders are central to mitigating risk and how and why executive leadership is slow to act.