Cybercrime is increasingly affecting global businesses, a new report finds. Total costs to businesses have soared to around $280 billion, with damage to reputation, management time and customer loss / churn the primary impacts of cyber attacks. Extortion too is on the rise, with 95% of companies still falling prey to poor training and practices of staff.
The impact of cybercrime is becoming increasingly prominent to businesses and people across the globe. The Sony hack was paraded through the global news media, while the hack of Yahoo saw more than 500 million peoples' details find their way into the hands of hackers. The scale, and potential fallout, from attacks, remains large. In a new report from Grant Thornton, which involved a survey of 2,500 business in 36 economies worldwide, the firm explores the damages done to companies as well as kinds of attacks currently impacting businesses.