Cyberattacks on businesses rise as survey reveal internal risks
The survey defines cyberattacks broadly, covering various malicious activities such as phishing emails, ransomware that locks down company networks and schemes that divert funds to hackers' accounts.
MUNICH - Cyberattacks on businesses are on the rise, with an international survey revealing that 67 per cent of managers reporting an increase in incidents over the past year, according to the German news agency (dpa).
The survey, conducted in September by the British consultancy firm Man Bites Dog for the British insurer Hiscox and published on Thursday, involved 2,150 managers from the United States, Germany and six other European countries, highlighting the growing threat of cybercrime.
The survey defines cyberattacks broadly, covering various malicious activities such as phishing emails, ransomware that locks down company networks and schemes that divert funds to hackers' accounts.
The main way hackers gain access is through vulnerabilities in cloud server access, while company employees pose another significant risk, particularly those who may fall victim to phishing scams, the survey revealed.
But the threat isn't limited to external hackers: 42 per cent of respondents identified employees, subcontractors, or business partners as potential risks.
Gisa Kimmerle, head of cyberinsurance at Hiscox Germany, noted that "social engineering" techniques are often used to manipulate employees into revealing sensitive information. One prevalent tactic is the "fake president" scam, where hackers impersonate executives to initiate fraudulent payments to be made to their own accounts.
The survey included input from senior executives and IT managers, with a focus on small- to medium-sized businesses.
Payment fraud has become a major concern, with 58 per cent of companies reporting financial losses due to such schemes.
Additionally, 43 per cent of businesses that experienced public cyber attacks reported losing customers as a consequence of the incidents.
While online extortion remains a common threat, Kimmerle stressed that paying ransoms often does not guarantee the restoration of full system access and companies may still need to reinstall their systems after the attack. - BERNAMA-dpa
