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Cyber attacks fast-emerging risk for global firms: Report

Posted On: Jun. 12, 2015 12:00 AM CST

Standard & Poor's Corp. has said in a report that cyber attacks are a fast-emerging risk for firms globally, reported Voice of America.

Cyber attacks might cost businesses globally about $400 billion a year, said the report. Such attacks could damage a firm's reputation, interrupt business operations, or prompt lawsuits from customers, added the report. S&P said that insurers face difficulty in evaluating risk and pricing cyber insurance products as the field is "fluid" and unpredictable.

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