Expert advice for CEOs to protect against heightened risk of cyberattacks

The economic impact of Russia’s invasion of Ukraine has yet to be seen or felt by small and midsize businesses, but the increased threat of a cyberattack has escalated immediately. So while the war seems far away, the threat to your business is not. It’s already here and small and midsize businesses are targets.

Our Q4 2021 Vistage CEO Confidence Index survey — conducted last December — revealed that cyber preparedness among small and midsize businesses continues to improve over time, with 51% of CEOs reporting they have a current strategy that is reviewed annually.

And while 46% of CEOs reported they have not had an incident in the past year, nearly half (49%) have had an incident or had a customer or supplier report an incident that may have put them at risk. Cyberattacks are not often detected for months, which is why it is critical to ensure your plan and response offer protection and lower risk.

Ukraine cyberattacks: What businesses need to know

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The war in Ukraine continues to rage and evolve on a daily basis. We see the images of war: burned-out tanks, destroyed buildings, refugees seeking safely. While the first signs of increased inflation are already showing up in energy costs, what we don’t see are the new battlefields of cyber warfare. The Ukraine battlefield seem a long way away, but the cyberwar is on your doorstep right now as hackers have radically stepped up cyberattacks targeting you and your business. We’ve asked Vistage Chair Joe Musella to talk about how CEOs need to think about this threat right now.

About the presenter

Joe Musella is a former corporate attorney with multinational law firm Clifford Chance and a former Special Agent with the Federal Bureau of Investigation focusing on international counterterrorism. Later, he served as President and CEO of MHM Innovations, Inc., which specializes in providing subject matter expertise to support classified projects in data science and cybersecurity. A former Vistage member, Joe is now a Chair based in Fairfax, Virginia.

Cybersecurity advice for CEOs: Maximizing Protection

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A cyberattack will take a business down as suddenly as a heart attack. And despite everything that has gone on and is going on, there’s no greater threat to your business right here, right now. To help CEOs expand perspectives on this topic, I spoke with Vistage speaker Mike Foster, CEO of The Foster Institute Inc., and one of our most popular cyber speakers. His presentation, ”Stop Today’s Hackers: Empowering CEOs to be Cloud & Cybersecurity Savvy,” has never been more important than it is today.

Cybersecurity advice for CEOs: Minimizing risk 

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Cybersecurity remains a key issue, especially in light of the recent invasion by the Russians of Ukraine. Cybersecurity expert Mike Foster returns to update CEOs on how to harden their silos and minimize their risk of an attack.

About the presenter

Mike Foster | CEH, CISA, CISSP, CEO of The Foster Institute Inc.

Mike Foster, widely recognized for his broad range of high-level technological expertise, is CEH, CISA, CISSP and CEO of The Foster Institute Inc. His company assists clients in saving money with IT, being in alignment with Best Practices and handling all IT Security issues. All those are areas for business survival — including IT Security.

Related resources 

Cybersecurity roundtable: Expert advice for CEOs

Cyber risk exposes your weakest link: the remote worker

5 expert tips to prevent cyber attacks and protect your business 

Cyberthreats and solutions for small and midsize businesses

Category: Technology

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About the Author: Joe Galvin

Joe Galvin is the Chief Research Officer for Vistage Worldwide. Vistage members receive the most credible, data-driven and actionable thought leadership on the strategic issues facing CEOs. Through collaboration with the Vistage community of…

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