Page 48 - Cyber Defense Magazine for August 2020

Cyberattacks Hitting Organizations in The Wallet

Considering many organizations are seeing a financial impact due to the pandemic, the additional cost
of a cyberattack could not come at a worse time. Regarding lost business revenue, our survey found in
the U.S., 35% lost between $38K-63K, and 14% reached losses of $63K-95K; in the U.K., 40% lost
between £30K-50K. In terms of the financial impact on a brand, in the U.K., 43% saw between £30K-
50K in losses; in the U.S., 38% reported between $38K-63K in losses. Also, 7.5% in each region lost
between £50K-75K or $63K-95K.

Concerning the financial impact of legal and mitigation costs, in the U.K., 33% spent between £20K-40K;
in the U.S., approximately 30% spent between $38K-63K, and for 11 % the costs hit the $63K-95K range.

DOWNTIME IS PROMINENT TOO

Since the beginning of the COVID-19 pandemic, 97% of companies experienced downtime between 1-4
hours. Fortunately, only 3% reported downtime higher than four hours.

Figure 11: Only 3% percent of companies experienced downtime greater than four hours.

Cyber Defense eMagazine – August 2020 Edition 48
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