Page 234 - Cyber Defense eMagazine Annual RSA Edition for 2024

Preventing Ddos Attacks Is Smart Business Sense

Cybersecurity Isn't Just A Tech Issue, It's A Business Issue

By Phil Richards, Chief Financial Officer, Corero Network Security

Chief Financial Officers (CFOs) carry a lot of responsibility, analyzing their company’s financial strengths
and weaknesses and acting as stewards of their organization’s financial future. It might be tempting,
therefore, to leave the thorny problem of cybersecurity strategy resting squarely on the shoulders of those
in IT. But that would be a mistake, and possibly a costly one. The business impact of a cyberattack goes
beyond the immediate financial loss to include brand damage and lost employee time, for instance, not
to mention that more time spent on business recovery means less time spent on innovation.

It might come as a surprise, but given that they hold the proverbial purse strings, CFOs play a vital role
in safeguarding their businesses against cybercrime. In truth, CFOs should consider cyber risk as
synonymous with financial risk and consider ensuring a strong cybersecurity strategy as just one of their
job requirements.

234