Following the security attacks that took place earlier this month on the Everis consultancy and Cadena SER radio in Spain, we thought it would be interesting to bring you a Hiscox study done by Forrester Consulting between October and December 2018.
Through surveys conducted in American, English, Spanish, Dutch, German, Belgian and French companies, the study sought to understand whether companies are prepared for these attacks.
According to the report, the majority of companies (61%) say they have experienced security breaches in the last twelve months, which contrasts with the 45% of companies that acknowledged having experienced one or more cyber attacks in the year 2017. With regard to the frequency of incidents, 30% of companies reported having had four or more incidents, an increase and 10% compared to the previous year.
The most recurrent attacks were viruses and worms (24%), followed by ransomware (17%) and denial of service or DDoS (15%).
“Small businesses (up to fifty employees) that have been targeted by cyber-attacks have risen from 33% to 47% and for medium-sized businesses (up to 250 employees) from 36% to 63%, this is despite large organisations being the most affected with 75% experiencing problems and with 21% indicating they have experienced five or more security incidents.”
However, the study reveals that this increase may be a consequence of the implementation of the GDPR As Gareth Wharton, cyber CEO of Hiscox, noted “The regulation is increasing companies’ awareness of security issues and forcing them to lay a rigorous foundation in cybersecurity. The GDPR has forced organisations to adapt and caused an increase in demand for cyber security and cyber insurance solutions.”