by Ross Dyer
Another week, another attempt to quantify the staggering losses that can result from a major cyber attack. This time, it was accounting giant Grant Thornton International which noted that one in six businesses have been hit over the past year, at a potential total cost of over £200 billion. The firm surveyed 2,500 business leaders in 35 economies, so the results likely to be more accurate than most. However, with data breach reporting still only compulsory in the US, that figure could still represent just the tip of the iceberg.
What is clear, is that targeted threats are amongst the most expensive and potentially devastating cyber incursions an organisation can experience. Our new research revealed at CLOUDSEC last week, puts the average cost at around £172,000 for UK firms. But it also reveals that there are things that every firm can do to reduce the financial and reputation impact of such an attack. Continue reading