Cyberattacks costing firms up to £291,000

Pedro Gonçalves
clock • 2 min read

More than three in every five firms (61%) experienced a cyber attack in the past year, with average losses associated with all cyber incidents have risen from £180,000 last year to £291,000.  For larger firms cyber-related losses now top £551,000 on average compared with £128,000 a year ago, according to a study commissioned by insurer Hiscox. Phishing attempts are overwhelming the industry, impersonation fraud through spoofed emails and copycat websites has increased exponentially and data breaches are recurrent. "The cyber risk may mutate rapidly, but progress in mitigating and m...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?