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Organisations need to change their way of thinking about cyber risks. Instead of just focusing on threats, they should look at the potential harm that cyber attacks can cause. By understanding these harms, they can better protect their assets and the people who rely on them. This shift can help companies make smarter decisions about cybersecurity.

Cyber harms erode stakeholder value. When business leaders think about cyber attacks, they often think about operational resilience and thereby focus on the technical side of protecting data but overlook the social, psychological and societal harms these attacks have on their stakeholders.