The true cost of cyber attacks
A new report released by Oxford Economics, has shown that FTSE 100 companies take a huge hit to their market value following a serious cyber attack. The study, that looked at 65 severe breaches at listed companies, was the first to establish a link between hacks and falling share prices.
We’ve highlighted the key take-away points from the report in the infographic below:
With recent research from the British Chamber of Commerce finding that one in five British companies have fallen victim to a cyber attack in the past year, these stats come at a time where cybersecurity is at the forefront of British companies’ minds. BCC director-general Adam Marshall said: “Cyber attacks risk companies' finances, confidence and reputation, with victims reporting not only monetary losses, but costs from disruption to their business and productivity.”