Understanding Cyber Security Risks in Business

“Hi, everyone. I’m Andrew Kozloski, and today I’m going to talk about one of the most critical issues faced by organizations: cybersecurity.

I’d like to simplify the complex and give you a foundational understanding of how cybersecurity interlinks with business strategy, regulations, and privacy.

My goal is to ensure that by the end of this brief presentation, you feel more confident about protecting your organization.

I’m speaking on behalf of MAGNA, founded by Jean Loup P. G. Le Roux in 2014 and leading the way in helping companies like yours secure their futures. You can see below a list of some of our customers on the left, and on the right, under my portrait, some of the companies I’ve worked with before joining MAGNA.

Every day we work with global companies, with startups and everything inbetween.

Cybersecurity is no longer something that can be relegated to IT departments. It’s a business issue that affects your reputation, operations, and bottom line.

Let’s look at the numbers: In 2023 alone, cybercrime cost U.S. businesses over $10 billion. These threats are increasingly sophisticated, targeting all levels of your organization.

Whether it’s ransomware, data breaches, or insider threats, no company is immune. This slide gives you a snapshot of some of the most pressing threats you need to be aware of.

In 2021, using a single password, hackers infiltrated the Colonial Pipeline Company with an attack that caused fuel shortages across the U.S. (Bloomberg)

Meat processing company JBS was the victim of a ransomware attack that shut down processing plants on four different continents. (Wall Street Journal)

I’d also say that the geopolitical landscape adds another dimension to cyber, with a sharp increase of adversarial activities online since the RU/UA conflict.

Today it’s not even necessary to be explicitly targeted–hackers have automated tools that roam the web looking for vulnerable targets and then calling out to their masters to come look at your vulnerabilities and see if they can get in.

One of the main reasons cybersecurity is such a priority today is the evolving legal landscape. Governments around the world are stepping in with regulations around privacy (GDPR, CCPA), healthcare (HIPAA), critical infrastructure (NERC) and Artificial Intelligence (EU AI Act), etc.

What’s critical to understand is that these regulations not only mandate how you must protect data and manage risk but also how you must respond in the event of a breach.

Non-compliance can lead to very heavy fines (for example calculated as a % of your worldwide sales), but more importantly, it can destroy customer trust. And as we know, trust is one of the most valuable assets any company has.

MAGNA specializes in navigating this complex terrain. We ensure your cybersecurity efforts are aligned with regulatory requirements while protecting your brand reputation.

A strong cybersecurity posture doesn’t happen by accident. It requires strategic planning and adherence to established frameworks like NIST or ISO 27001.

These frameworks provide a structured approach to managing risk and ensuring ongoing compliance. They cover everything from identifying risks to responding to breaches.

We’ve seen clients require a specific framework or certification as a condition to do business, it’s becoming increasingly common.

Typically we will work in 3 areas that we call PPT: People, Process and Technology. You cannot implement good security without taking them all 3 into account.

But it’s not enough to just follow a framework. You need to ensure it’s implemented properly and fits your business model.

We’ve helped organizations implement these frameworks, customizing them to fit their needs and ensuring they’re not just compliant but resilient.

Remember: strong compliance helps building trust, but compliance is only a by-product of good security, and not the other way around!

Again, cybersecurity is not just the responsibility of the IT department. It is a governance issue and needs to be treated as part of your fiduciary duty as an executive.

An important responsibility of the board is to ensure that cybersecurity is an ongoing agenda. This means understanding the risks, defining what’s acceptable or not, allocating the right resources, and holding management accountable.

As fiduciaries, you are responsible not only for ensuring compliance but also for safeguarding the long-term value of the business.

We offer executive briefings and governance guidance to ensure your organization remains ahead of the curve, as both the threat and regulatory landscapes evolve constantly.

Cybersecurity is not a one-time effort. It’s an evolving process that requires continuous monitoring and adaptation.

You’ve heard today how critical it is to protect your business, comply with regulations, and build trust with your stakeholders.

We at MAGNA are here to help you take that next step —whether it’s assessing your current risks, implementing a cybersecurity framework, or certifying your compliance.

Our service portfolio is built around four strategic pillars, carefully balancing both proactive and reactive cybersecurity solutions. By focusing on proactive measures, we aim to help you significantly reduce long-term costs.

The industry consensus is clear: investing in proactive security strategies—such as risk assessment, compliance frameworks, and employee training—is far more cost-effective than responding to data breaches or incidents after the fact. Reactive measures are critical, but preventing incidents from happening in the first place minimizes the financial and reputational damage that can be much more costly.

We can ensure that your organization is not just protected, but resilient and ready for the future.

While obtaining a certification is not a guarantee that your organization is respecting all necessary laws–that requires profound analysis–in the majority of cases the requirements of the certifications are stronger than the requirements of the law.

That’s it for today’s brief. We hope you enjoyed this presentation. To stay updated, feel free to follow our linkedin page, available at the address on screen.

We remain available for any inquiries. Thank you again for your time.”