News
Almost 40% of businesses lose over $100,000 per cyberattack
October 2022 by Atlas VPN
Successful cyberattacks can cause significant financial losses and harm to businesses. According to the recent findings by the Atlas VPN team, 37% of companies lose over $100,000 per cyberattack on average. Besides the financial damages, businesses also ruin their reputation, lose corporate information, and experience disruption of partner operations.
Tyler Olson
After a successful cyberattack, less than $5,000 were lost in 14% of businesses. Between $5,000 and $9,999 were stolen from 8% of companies. Cybercriminals got away with up to $49,999 after cyberattacks on 16% of businesses. Overall, 24% of businesses lost between $50,000 and $99,999.
Furthermore, 22% of companies suffered significant losses starting from $100,000 up to $499,999. Cybercriminals stole even more money, between $500,000 and $999,999, from 11% of businesses. Lastly, 4% of companies claimed to have lost over $1 million after a successful cyberattack. Just 2% of businesses did not know the actual losses.
Cybersecurity writer at Atlas VPN Vilius Kardelis shares his thoughts on cyberattacks on businesses:
“Even though many businesses have invested more into cybersecurity lately, the most critical challenge is transparency. Companies are afraid to report incidents for fear of losing customer trust. However, that makes cyberattacks more dangerous and prevalent, causing significant damage to businesses.”
Consequences of cyberattacks
Besides the already mentioned financial losses, businesses often suffer additional damages after a successful cyberattack.
Nearly one-third (31%) of businesses experienced disruption of partner and customer operations and theft of financial information. Furthermore, more than one-quarter (28%) of companies suffered reputational damage and theft of financial information after a successful cyberattack.
About one-fourth (24%) of businesses had to deal with supply chain disruption. At the same time, another 23% of companies experienced obstruction of trading or business operations. Less than one-fifth (19%) of businesses suffered from the loss of business or contract, while money theft was present in 18% of companies after a successful cyberattack.
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