Cyber attacks estimated to cost businesses $280 billion
Posted On: Dec. 13, 2016 5:00 AM CSTA report by U.S.-based consulting firm Grant Thornton L.L.P. has said that cyber attacks will inflict $280 billion in damage on businesses across the world, Consultancy.uk reported. Some of the main impacts of cyber attacks include: loss of reputation, management time, customer loss or churn, clean-up costs and direct loss of turnover. The financial services sector was the most heavily targeted industry, followed by healthcare and energy. The report added that 52% of the respondents said they do not have cyber insurance.