Knowledge 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 had been barely extra prone to expertise a critical cyber assault at 77% in comparison with the UK at 73%. Nonetheless, UK companies find yourself shedding extra in price. These incidents have price senior IT respondents a median direct lack of £1.3 million, which isn’t inclusive of the long-term results that cyber assaults can convey.
The true price of a safety breach lies within the oblique losses, which have turn into extra pricey than the cyber assault itself. Status harm and paid ransom averaged £1.5 million in 2022.
Practically 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 great cyber-attacks on companies within the UK and the US. This can be a rising downside and one with critical ramifications for affected organizations,” mentioned Jamie Smith, board director at S-RM.
“Typically companies will give attention to the direct monetary impression of a cyber incident, however the oblique impression will be even increased and much tougher 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, assist restoration, and decrease pricey downtime.”
