Companies, organizations and public institutions are increasingly exposed to the risks of cyber attacks. These threats not only jeopardize the confidentiality of information, but also lead to significant business interruptions and cause considerable financial damage.
The damage is so high because IT now permeates the entire company and many areas are affected by a failure. If e-mail, telephone, office applications, logistics, production and sales systems are affected at the same time, business operations come to a standstill in many areas, usually for a long time. This means that the issue is not just a task for IT, but also for CEOs and directors.
It is very important to minimize the risks, but also to be prepared for the worst-case scenario, as there is no such thing as 100% security. These measures affect all areas of the company or organization and generate effort and costs. To help CEOs and CFOs better recognize their necessity, the costs of cyberattacks are compiled here in relation to the expenses. And: every company gets hacked at some point ...
yearIndustryHQRevenueEmployeesTypeCostsDetails
County administrationUSACyberangriff$ 350,000
Ransom
Link
2023Chemistry, household goodsUSA$ 7.1 b8,700Cyberattack$ 49 m
after 4 months
Details
2023County administrationUSAFraud$ 551,000
lost
Link
Use of a false identity with a similar e-mail address; change of account details; transfer of $1.16 million to the fraudsters' account; $612,000 recovered.
2023Church associationUSAFraud$ 700,000
lost
Link
Fraudulent emails, money transfer
2023BiotechGermany€ 751 m4.482Cyberattack€ 43,9 m
after 5 Months
Details
2022City governmentGermany2,400Cyberattack€ 1.8 m
after 8 months
Details
Following an alert of an imminent attack on the city administration's IT systems, the systems were taken offline and examined. No data theft was detected.
2022School districtUSA21,000 studentsCyberattack$ 692,000
incl. $ 250,000 ransom
Link
Link
2022LogisticsUSA$ 17.1 b20,000Cyberattack$ 65 mLink
$ 18 million recovery costs (primarily consulting), $ 47 million additional demurrage in ports. The loss of revenue cannot be quantified.
2021MediaUSA$ 6.134 b11,500Cyberattack$ 24 m
after 4 months
Link
Ransomware in October 2021; it incurred $63 million in lost advertising and $11 million in costs to mitigate and investigate the incident and improve security; the company estimates that it will have a loss of at least $11 million after insurance proceeds,
2021PackagingUSA$ 18.7 b49,900Ransomware$ 79 mLink
The $ 79 million is made up of $ 50 million in lost sales and $ 29 million recovery costs (primarily professional fees). $ 67.2 million was covered by insurance.
2020Local governmentUK4,500Cyberattack$ 15 mLink
Link
2019ClothingDenmarkFraud$ 1 m
lost
Link
Business Email Compromise, false identities, money transfer to wrong account
2019UniversityGermany5,500 + 28,000 studentsCyberattack€ 1.7 mDetails
In December 2019, Justus Liebig University in Giessen was hit by a cyber attack. The university managed to get important systems back up and running in a relatively short time. Excellent external communication was maintained during the downtime. In addition, the events were thoroughly documented.
2019Hearing aidsDenmark$ 2.2 b20,500Cyberattack$ 82 m
EBIT 2019
Link
Bert Kondruss
Author:
Bert Kondruss
Founder and managing director of KonBriefing Research

About KonBriefing Research

KonBriefing is an independent researcher and analyst in the field of IT security, information security, risk management and compliance. The company was founded in 2019 and is based in Germany.
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Cyber attacks worldwide

Cyber attacks worldwide
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