Wednesday, December 7th, 2022

Revealed – the share of companies hit by a cyber incident since 2019

Information exfiltration went up from 37% to 46%, ransomware from 30% to 40%, hacktivism from 32% to 39%, denial of service from 28% to 39%, fraud from 29% to 38% and cryptojacking from 27% to 33%.

US companies have been barely extra prone to expertise a critical cyber assault at 77% in comparison with the UK at 73%. Nevertheless, UK companies find yourself shedding extra in value. These incidents have value senior IT respondents a mean direct lack of £1.3 million, which isn’t inclusive of the long-term results that cyber assaults can carry.

The true value of a safety breach lies within the oblique losses, which have change into extra pricey than the cyber assault itself. Popularity harm and paid ransom averaged £1.5 million in 2022.

Almost half of those companies additionally went into operational downtime, elevated insurance coverage premiums, skilled reputational harm, and paid authorized prices following the cyber assault.

“Our newest report reveals the sheer scale of significant cyber-attacks on companies within the UK and the US. It is a rising drawback and one with critical ramifications for affected organizations,” mentioned Jamie Smith, board director at S-RM.

“Usually companies will give attention to the direct monetary impression of a cyber incident, however the oblique impression could be even greater and much harder for them to precisely quantify,” Smith mentioned. “That is a part of the explanation why an efficient incident response plan and related coaching is so vital. The appropriate plan can decrease the secondary impression of assaults, assist to restrict reputational harm, support restoration, and decrease pricey downtime.”

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