What are the consequences of neglecting cybersecurity risk management?

Neglecting proper cybersecurity risk management practices can lead to various potential repercussions, including:
1. Data breaches and theft of sensitive information
2. Financial losses due to theft, fraud, or ransomware attacks
3. Damage to reputation and loss of customer trust
4. Legal and regulatory consequences for failing to protect data
5. Disruption of business operations due to cyber attacks
6. Loss of intellectual property or trade secrets
7. Compromised systems and networks leading to downtime and productivity loss
8. Increased vulnerability to cyber threats and ongoing attacks
9. Potential liability for not safeguarding customer or employee data

10. Difficulty in recovering from cyber incidents and rebuilding trust with stakeholders.