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Some events remain vivid in my memory. The CEO slammed his laptop shut and looked around the emergency meeting room. The Head of IT was pale. Legal was already drafting a holding statement. Communications wanted to “control the narrative.” The CFO kept asking for numbers no one had. Meanwhile, payroll was frozen, customer data was encrypted, and social media was turning hostile.
It had been six hours since the ransomware alert. And the real damage had not even started. I have sat in that room more than once, across banks, fintechs, telecoms, insurers, and regulators. The myth executives believe is that a cyberattack is a technology failure. It is a governance stress test.
Most boards misunderstand what happens after a cyberattack. They think recovery is about restoring systems. In truth, it is about restoring trust, capital discipline, and decision clarity when the pressure is high. READ MORE |