loss
British businesses lost $55 billion from Cyber Attacks
For years, we’ve heard countless reports of individuals and businesses lamenting the significant losses they’ve suffered due to cyber-attacks. But a recent report from Howden reveals a staggering figure: UK businesses have lost a total of $55 billion (£47 billion) to cyber-attacks over the past five years. To put this into perspective, nearly 55% of […]
Cyber attack on payment systems could cost $3.5 trillion loss to the world
Have you ever contemplated the potential ramifications of a highly sophisticated cyberattack targeting global payment systems? Lloyds of London, a prominent provider of insurance services, has undertaken an analysis that suggests the world could face staggering losses of up to $3.5 trillion in the event of a global payment system outage resulting from a cyberattack. […]
Ransomware attacks on schools fetched $6 Billion loss
According to a report compiled by Comparitech, Ransomware Attacks on schools and colleges operating in United States could have fetched a $6 billion loss to the institutes on a combined note in 2020 alone. The only good news is that the research team found that the average downtime was witnessed to have decreased from 14 […]
Year 2020 witnesses $6 Trillion loss through Cyber Attacks
It’s clear that the year 2020 hasn’t been a great year to many around the world on health front- all thanks to the spread of Corona Virus from China. But can you believe that the first 9 months have yielded a $6 trillion loss from cyber attacks. Speaking at the virtual conference Solarium 2020, organized […]
Cyber Attack on London Power Grid could cost £111 million per day
A Cyber Attack on the power grid of London could not only leave more than 1.5 million people in dark but could also cost the city a loss of £111 million per day says a new study made by ITRC of the University of Oxford. According to a study conducted by the UK Infrastructure Transitions […]
US businesses incurred $654 Billion loss from Cyber Attacks in 2018
A recent survey made by ForgeRock says that businesses operating in the US incurred a loss of $654 billion due to cyber attacks in 2018. But the loss estimate doesn’t include the after effects caused by cyber attacks such as data loss, reputation loss, and reduced customer loyalty. Healthcare industry happens to be the worst […]
Cyber Attacks on IoT cause £ 1billion loss to the UK economy
Recent research carried out by a Dutch Software firm named Irdeto claims that cyber attacks on the Internet of Things (IoT) are causing a £ 1billion loss to UK Economy. The software company estimates that the economy of the United Kingdom suffers over $244,000 loss on an average every year with malware attacks and data […]
Cyber Attacks on Businesses cost investors £42 billion loss
Cyber Attacks on businesses is costing investors £42 billion loss says a study commissioned by cyber security firm CGI and conducted by Oxford Economics. The study also confirmed that a company which is listed in FTSE 100 Index gets worse off by an average of £120 million after a breach. Oxford Economics made the study […]
