THOUGHT LEADER
“ Although cyber attacks can have significant financial consequence , the impact on customer trust and brand reputation can be even more costly ”
EDDIE LAMB , CISO , HISCOX
leading to delays in operations and a halt in revenue generation . In addition , the financial burden of paying ransoms for data recovery can be costly , with no guarantee that the data will ever be recovered – even after the payment has been made . The longer-term financial impacts of a cyber attack can be equally damaging , with the potential to result in regulatory fines and lead to a loss of business .
Although cyber attacks can have significant financial consequence , the impact on customer trust and brand reputation can be even more costly . As our research reveals , of the organisations that have experienced a cyber attack in the past 12 months , 47 % report greater difficulty in attracting new customers , and 43 % report losing customers .
This issue is a pressing concern for businesses as cyber attacks have become more sophisticated , by targeting sensitive data , making the stakes higher than ever . Organised crime is now going directly after the reputations of businesses and key individuals by leveraging sensitive
66 January 2025