07 Jun 2023
The recent devastating floods in Auckland not only exposed the vulnerabilities of our infrastructure in the face of climate change but also shed light on the urgent need for New Zealand businesses to take cyber risks seriously.
The recent devastating floods in Auckland not only exposed the vulnerabilities of our infrastructure in the face of climate change but also shed light on the urgent need for New Zealand businesses to take cyber risks seriously. Just as our cities were unprepared for the torrential rain and flooding, many organisations are ill-equipped to handle the escalating threats of cyber attacks. My objective is to draw parallels between the Auckland flood and cyber risks, emphasising the need for Boards to be accountable and proactive in addressing cyber risk management concerns. Questions that need to be discussed and addressed in the Board room table are highlighted in this blog.
The Auckland flood serves as a stark reminder that organisations no matter what size must not adopt a "can-do" attitude when it comes to cyber risks. Boards of directors need to be accountable and proactive, ensuring that their organisations are adequately prepared to face escalating cyber threats. By learning from the lessons of the flood, New Zealand businesses can strengthen their cybersecurity infrastructure, foster a culture of resilience, and effectively navigate the evolving cyber risk landscape. The culture of denial or heads in the sand will not work. It’s not “an IT issue” and its not going away. In fact, it’s expected to get much worse once malicious actors starting using AI to broaden out their horizons. With increased vigilance and strategic investments, Boards can protect their organisations, maintain stakeholder trust, and contribute to the success of New Zealand's business ecosystem. My 2 cents managing cyber risk and enabling cyber resilience is a strategic measure for organisations in their growth strategy and long-term success and needs to be more than just a tick in the box and discussed in the Boardroom table.