GBAC Board of Directors Ransomware Readiness Assessment

How ready is your board of directors for a ransomware attack? Find out with our Artificial Intelligence Ai assessment!

The board of directors should consider buying a ransomware readiness assessment to ensure the company is prepared for a ransomware attack. Such an assessment would help identify any vulnerabilities the company may have and provide recommendations for how to remediate them.

AIG, one of the largest Cyber Insurance providers, reports Ransomware is constantly developing, accelerated by the growth of Ransomware as a Service (RaaS) data theft before encryption. It is now forecasted that by 2031, Ransomware will strike every 2 seconds globally.

GBAC Disruptive, Innovative, and Future Focused

CFO’s Roles in Ransomware

88% of Boards of Directors perceive cybersecurity as a business risk, while only 12% have a specific board-level committee for it, according to a recent Gartner study.

CFOs are concerned about the ROI of Cyber Security programs and spending. Post-COVID, inflationary times its become more strategic.

Cyber Risk Quantification -Better understanding For Boards’

Increased cyber spending has led to a new phenomenon where quantifying Risk in terms of Dollars spent is where the cyber insurance, threat detection, recovering data backup to normalcy, and claims are moving.

CFO-CISO-CIO are working closer than before

CFO’s are working closer with CISOs and CIOs to quantify the potential financial losses and residual Risk based on models. Training employees, board members, and supply chains in meeting regulatory compliance reporting in case of incident breeches and Data loss to customers

Financial and Healthcare Companies are more likely to have a cyber breach

Source: Safe Security’s study In the study, financial services companies with revenues exceeding $100 Billion are expected to pay $533 Million financial services industry for losses per breach.

GBAC is Providing the Board of Directors Ransomware Preparedness from Boards Oversight Function

They are many vendors out there from IBM and S&P Global entering the space for Cyber Risk quantification and ransomware assessment; however, GBAC- Global Board Advisors Corp, Boardroomeducation.com is an industry leader providing independent verification to board oversight. We uncover hidden gaps and offer guidance on where to spend and focus.

We have been working with the most significant board Chairs and directors of the Global 500 Technology Committees, and CEOs have been in the space for the last 23 years. Specifically with Banking, Healthcare & Technology Industry boards.

GBAC ransomware board of directors assessments include board oversight function, preparing, artificial intelligence analytics, scanning of regulatory compliance, D&O Liability coverage, heat maps areas of concnenreation. Heat maps are essential for understanding where potential problems may occur at a company. GBAC's use allows the company to focus on critical areas that may concern the company. s heat maps to identify and focus its efforts on those areas of concern.

Reach us for starting your journey to greener metrics to ransomware preparedness for your boardroom Info@globalboardadvisors.com

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