According to a study by Marsh and Microsoft, the biggest threat to businesses is cyberattacks. Nowadays, businesses are more worried about these attacks than about the economic crisis, the problems that can arise with their brand or the regulations that various committees impose on them.
The survey, which surveyed 1,500 business leaders , found that more important cybersecurity they than and that businesses are taking steps to protect themselves from cyberattacks more often is becoming were two years ago.
In 2017, Marsh and Microsoft conducted the same survey and found that 62% of businesses considered cyberattacks to be one of the top five risks . In the current survey, 79% expressed the same opinion . Also, in 2017, only 6% of businesses considered cyberattacks to be the number 1 risk. Now, it is considered by 22%.
According to the Global Risks Report, data theft and cyberattacks are among the top 5 risks. They are behind extreme weather events and concerns about climate change.
Over the past two years, there have been many attacks that have caused major damage to companies around the world. In 2017, the WannaCry ransomware affected a huge number of businesses. The US blamed North Korea for the attacks. After that, another devastating malware appeared , called NotPetya and was believed to have been started by Kremlin hackers
Another serious threat is ransomware attacks, which are very common. In recent months, many local governments in the US have been targeted by ransomware gangs, and some have been forced to pay large sums of money.
Also, many universities have been attacked, aimed at gaining access to library files.
However, nowadays, the most common and costly threat is hacking scams corporate email (followed by ransomware).
According to research by Marsh and Microsoft, 47% of organizations have hired cybersecurity specialists. In 2017, that figure was 34%.
Most (89%) of the businesses surveyed said they were confident in insurance companies, stating that they could cover the costs of a cyberattack.
However, there are businesses, such as Mondelez and drug manufacturer Merck, that fell victim to NotPetya in 2017, and their insurance companies refused to pay the costs of the attacks, resulting in the two companies taking legal action and filing lawsuits against the insurers.
Finally, 55% of respondents said they were "particularly concerned" about cyberattacks sponsored by foreign governments and argued that their own government should take measures to protect the country's businesses.
