'And the director himself declined'
An anecdotal personal story as it aligns with this exact statement although no one got killed but data breaches certainly occurred.
Many years ago now I was propositioned to be on the board of a financial technology company and they spared no expense in literally rolling out the red carpet for my arrival. I found it all very laughable being solely focused on business and the technical details as I was not being fooled by all the schmoozing. After hearing all the unrealistic business objectives and the promise of having the Philadelphia Flyers involved I then asked to meet the technology team that built the product to see a demo. They bring in one young guy who built it all, the executives are still present mind you, and they allow me to ask any and all questions about the platform that nearly no one in management comprehended. After seeing the demo which involved several blatant security issues I asked only one more question of the sole developer: "Would you put your financial information into this system?"
He provided his answer in front of the companies executive board and I can still see their reactions to this very day. I then stood up and thanked everyone for opportunity and left.