Research: Almost half of large companies are victims of cyber attacks

Internet criminals often target large companies: according to one study, 45 percent of companies with more than 250 employees have been the victim of an attack at least once.

This is evident from the Swiss-VR-Monitor, published on Monday, a semi-annual survey conducted by the Swiss VR Association of Boards of Directors in collaboration with the audit and consultancy firm Deloitte Switzerland and the Lucerne University of Applied Sciences and Arts. For the study, 400 board members were questioned about cyber resilience.

SMEs are less affected

In contrast to large companies, SMEs seem to be significantly less affected: only 18 percent of companies with fewer than 50 employees reported a serious attack.

Deloitte explained that the reason for the link between company size and frequency of attacks was that large companies worldwide were more vulnerable and provided larger targets for cybercriminals. “Another explanation for the supposedly lower impact on smaller companies is the partial lack of reporting of such incidents to the board of directors,” the report said.

The problem: there is a lack of cyber strategies

Action is needed here: Nearly half of companies have no clear cyber strategy, the report said. And 30 percent of companies have not appointed a board that adequately manages cyber issues. After all, eight out of ten supervisors have a risk policy that addresses cyber threats.

Cyber ​​attacks often have serious consequences for operational management. By far the most common consequence is a business interruption. This is the case for 42 percent of companies affected by a cyber attack. A quarter of the companies attacked experienced data breaches, and 20 percent experienced product failures and poor service.

In addition to loss of turnover due to business interruptions, there is a risk of high follow-up costs, for example for data recovery. Only 7 percent of the companies attacked experienced an asset outflow. But the financial consequences should not be underestimated, writes Deloitte. (sda/awp)