One in 5 companies risks bankruptcy due to cyberattacks

One in 5 companies risks bankruptcy due to cyberattacks

The insurance company Hiscox has recently published an interesting report on the degree of preparation of companies in the face of possible cyber attacks. The company interviewed over 5,000 companies in the US, UK, Ireland, France, Spain, Germany and the Netherlands and made a discovery that is as interesting as it is baffling.

Indeed, according to research, a fifth of the companies located in the US and Europe risked insolvency due to serious cyber attacks. Furthermore, 87% of respondents consider a cyber breach more serious than an economic crisis. On the other hand, the financial damage that could result from a hacker attack can be immense, just think of the most famous cases of ransomware attacks we told you about recently.

Hacks hackers cause immense economic damage to the affected companies
The increase in attacks is traced to the increase in work from home as a result of the COVID-19 pandemic, so much so that two thirds of respondents (62%) claim that the company was more vulnerable precisely because of staff working from home. The percentage rises to 69% in companies with more than 250 employees.

On the other hand, smart working and remote working will not disappear, so it is essential that companies start investing more security, also considering the speed and complexity of the most recent cyber attacks.

Furthermore, considering that phishing via e-mail remains the attack vector of choice for criminals, organizations need to focus on training of personnel in the field of cybersecurity.