According to a new survey of business executives conducted by Zogby Analytics for The Hartford Steam Boiler Inspection and Insurance Company (HSB) amd released on September 28, over half (53%) of businesses located in the United States have experienced a cyber attack within the last year. Key findings to take away from this data:
- Almost three fourths (72%) spent $5,000 or more to investigate each cyber-attack, restore or replace software and hardware, and deal with other consequences
- Over one third (38%) spent $50,000 or more to investigate each cyber-attack, restore or replace software and hardware, and deal with other consequences
Concerns from the executives surveyed listed that seven in ten were concerned about data destruction due to a cyber attack, with almost another two thirds (62%) concerned about equipment being damaged.
The most common consequences of a cyber attack was listed as data loss (60%) and then business interruption (55%). While malware (53%) and viruses (51%) were the most common types of cyber attacks, businesses and institutions also experienced distributed denial of service (DDoS) attacks (35%); ransomware (29%); cyber extortion (25%) and social engineering (13%).