Spain suffers the highest number of cyber attacks

Tuesday, 22 June, 2021

Spanish businesses are currently suffering the highest number of cyber attacks and are the least prepared to deal with such attacks, according to a new report released by Cyber Insurance specialist, Hiscox.

While cyber crime is on the increase globally, with criminals becoming more inventive, it is Spain that is being hit the hardest, highlighting just how crucial it is to ensure your business is fully protected.

According to the report:

  • The number of cyberattacks across all businesses has risen from 38% to 43%,
  • The rise was steeper amongst larger companies (over 1000 employees), which saw an increase from 51% to 61%.
  • Spanish businesses suffered the highest number of cyberattacks (53%)
  • Spanish businesses are currently the least prepared with regards to cybersecurity. Only 9% are sufficiently informed or protected, compared to the average of 25% across all countries EU.

Post Covid-19
In the post-Covid climate more and more employees are working remotely. So, it is no surprise that 58% of companies agree that they are more vulnerable to cyberattacks.

One of the main threats is Ransomeware, which takes control of devices that are connected to the internet to paralyse a company’s activity until a ransom is paid. The most common access point is phishing emails.

One in six Ransomeware victims say that their company’s survival was threatened and half of those affected suffered extremely costly attacks. Some 23% of the targeted companies said bad publicity had impacted their brand and reputation, an increase from 14% in the previous year.

Cyber Risk Insurance
With the exponential increase in the use of mobile devices and the ever more sophisticated methods of attack, cyberattacks are becoming more and more prevalent. Op de Beeck & Worth can help you find a tailor-made policy, offering the broadest possible cover to protect your company against the multitude of cyber risks currently facing Companies. And best of all cyber insurance is still very affordable.

Get in touch and we’ll be happy to discuss your options.