23% of Portuguese companies targeted by cyber attack in the past 12 months – Jornal de Negócios – Portugal

A study by Marsh concludes that European companies are not prepared to fight a possible cyber attack. In the last 12 months 23% of companies were the target of an attack in Portugal

A study by Marsh concludes that European companies are not yet prepared to combat a possible cyber attack .

According to data released on Thursday, 29 October, the specialist insurance brokerage and risk management in the last 12 months, 23% of Portuguese companies were of a cyber attack.

The study by Marsh aimed to realize the level of knowledge of the companies in this area and concluded that “companies across Europe have undervalued cyber risks they suffer daily.”

In the case of Portuguese companies, while 23% admitted being the target of a cyber attack, 57% of respondents identified the cyber risk as a key corporate risk.

A problem that does not only checks in the country. According to the study, “79% of European companies have, at best, a basic understanding of their exposure to cyber risks and a total of 68% have never calculated the financial impact that a cyberattack could cause your company.”

Returning to the analysis of the Portuguese market, 29% of companies interviewed by Marsh highlighted as a major threat, a cyber loss scenario, “the interruption of business.” “They considered although three of the greatest threats may come from: Hackers (39%), Internal Threat (30%) and operating errors (27%)”, reads the same document published by Marsh

Although more than half of the companies have already identified “one or more scenarios of cyber attacks that your company could be targeted, 74% did not estimate the financial impact that this threat would and 87% said it had no plans to take out cyber insurance “.

Another study points also concluded that” 75% of Portuguese companies identifies the IT department as responsible for reviewing and managing cyber risks. “

To Ana Marques, head of Marsh, “part of the solution is a shared responsibility, where both the risk management department, how management play a key role.”

In addition, warning that “it is imperative that organizations rethink their strategies in terms of risk management, arming itself with sufficient means to respond to a security incident in real time. Regardless of investments in sophisticated solutions and efforts to improve internal controls, the figures reveal that it is not a matter of if, but a matter of ‘when’. “