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Each Cyberattack in 2018 Cost Companies $ 1.6 million

A report indicates that only 7% of organizations have never been victims of an attack on their digital systems, compared to the other extreme, where we find that a fifth of companies are attacked daily.

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A report indicates that only 7% of organizations have never been victims of an attack on their digital systems, compared to the other extreme, where we find that a fifth of companies are attacked daily.

Suffering a cyber attack causes many things in the unfortunate victim: anxiety about the possible implications with clients and regulators, impotence in the face of the situation and some humiliation for not having been able to avoid it. Of course, also economic losses -direct and indirect- associated with the security incident, which can be of extraordinary relevance.

Not in vain, the average cost of each cyber attack in 2018 amounted to 1.6 million dollars for companies. This is confirmed by a recent study by Radware, based also on the actual figures provided by organizations that have suffered from the calamities of cybercriminals, not in mere estimates.

Within that amount, there are a couple of important areas that are most affected by cyber attacks. These are the operational and productivity losses (54%) and the negative customer experience (43%). Service disruption and data theft are the main targets of cyberattacks, the document adds.

Despite the increasing investment in cybersecurity and the increase of corporate awareness in these conflicts, cyber attacks are increasing. The report points out that only 7% of organizations have never been victims of an attack on their digital systems, compared to the other extreme, where we find that a fifth of companies are attacked daily.

Although attacks are increasingly effective, many companies do not have an emergency response plan in place. “This year we have seen a real change in the impact that an attack has on a company financially and it is especially interesting that more companies take the time to calculate the loss, not just to estimate it.

That is not surprising given how volatile economies are at this time. Understanding the impact of downtime on productivity, as well as sales and consumer confidence is essential to justify spending on protecting the company in the future and maintain competitiveness, “the report says.

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