How much money are U.S. companies losing to cyberattacks?

October 6, 2022  12:44

Successful cyberattacks create many serious problems for businesses -- and not just financially. According to a recent report by the Atlas VPN team, 37 percent of companies lose more than $100,000 per successful cyberattack, and 4 percent lose more than $1 million.

These companies' reputations also suffer, and they may also lose important corporate information and experience disruptions with partners.

The authors of the report analyzed data from an annual survey conducted by Keeper Security that included 516 top IT executives. According to the report, 11% of affected companies lost from $500,000 to $1 million, and 14% of companies reported losses of less than $5,000 as a result of hackers' actions.

Because of cyberattacks victims of hackers not only suffer financial losses, but also face other negative consequences. 31% of companies face problems and failures of work with clients and partners, 31% lose important financial information, and another 28% face reputational risks and problems.

Besides, due to the actions of hackers, 24% of businesses have experienced disruptions in the supply chain, and another 23% have encountered obstacles to trade or business activities. Moreover, 19% of businesses have lost business or contracts because of cyberattacks.

According to Atlas VPN, an average American company is attacked by hackers 42 times a year of which 3 are successful.

Another interesting figure: 48% of IT leaders knew about the cyberattack, but kept it a secret and did not report it to the appropriate authorities for fear of losing customer trust. However, this approach only serves to make cyberattacks even more widespread and more dangerous for businesses.

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