The average cyberattack results in damages of $4.6 million, and organizations can expect losses of $10 million as a result of cyberattacks each year, new research by Radware shows. The four major business impacts of cyberattacks are customer loss (45%), brand reputation loss (44%), revenue loss (32%) and operational loss (32%),
According to Anna Convery-Pelletier of Radware, the study “shines a spotlight on increased sophistication of management philosophy for information security and security strategy.” Indeed, the report indicates that cybersecurity has become a business driver, since 3 in 4 executives consider security to be a vital part of their marketing strategy. In addition, cybersecurity is regularly discussed in board meetings in 72% of firms.
Read more: Security breaches: 4 business impacts
