The article addresses the problem of the limited effectiveness of the perception of warning signals related to threats. The subject is an element of the search for methods to improve the efficiency of risk monitoring systems. The problem with these systems is the fact that, despite the existing standards, binding norms and regulations, as well as numerous organisational, technological, and institutional security measures, unexpected negative events still occur, and their consequences include not only significant losses but also numerous human tragedies. The article presents a model of the efficiency of the perception of threats that identifies a 9-dimensional vector of the “significance of the perceived threat”. Each of the presented dimensions reflects a specific factor that influences the significance of the perceived threat. The research was based on the feeling of endangerment caused by the COVID-19 pandemic among the citizens of Poland. The threat was particularly noticeable in the first phases of the pandemic, i.e., in March and April 2020 and October-December (the second wave of the pandemic).