Just dove into the Hiscox Cyber Readiness Report 2023:
1- Less than half of firms that paid up got all their data back.
2- In three years, the proportion of firms attacked with less than ten employees rose by more than half to 36%.
3- For businesses with 1,000-plus employees, cyber attack costs have risen 125% in two years, to around $53,500.
4- Four sectors suffered median costs of $20,000 or more – manufacturing, transport and distribution, energy (which has featured among the top three targets for each of the last three years) and government and non-profit. Both the transport and distribution and government and non-profit sectors saw significant cost increases year-on-year (28% and 83% respectively). - Manufacturers reported the highest median loss for the single worst attack – at $7,161.
5- The favourite entry point for hackers was once again business email compromise, mentioned by 35% of targeted companies.
6- The principal route in for the hackers was once again via phishing emails (mentioned by 63% of victims)
#cyberinsurance #humanriskmanagement #managinghumanrisk #phishing #smishing #cybersecurity #securityawareness
Commercial Paralegal | First Class Honours Law Graduate
1yCyberattacks are becoming more advanced, with endless ways to gain access to sensitive data RCE being one of them. Having a strong security system is key!