A global cyberattack could have similar affects as a natural disaster on the economy.<\/p>\n
According to a 56-page report by Lloyd\u2019s of London, global cyberattacks pose a huge risk to governments and businesses, resulting between US$4.6billion and US$53billion in economic losses.<\/p>\n
Designed to cause systems to crash in businesses operating systems, attackers push malicious codes into cloud provider software globally.<\/p>\n
The malware then spreads among cloud provider customers, pushing losses to US$121billion, similarly to the natural disaster, Hurricane Katrina, which pushed losses to US$108billion in 2005.<\/p>\n
Both scenarios raised concerns, with the WannaCry ransomware attack in May this year impacting hospitality, retail and healthcare.<\/p>\n
According to ComputerWeekly, \u2018an initial \u00a321million of capital funding will be targeted at strengthening the cyber resilience of major trauma sites as an immediate priority, and improving NHS Digital\u2019s national monitoring and response capabilities.\u2019<\/p>\n
David Emm, Principal Security Researcher,\u00a0Kaspersky Lab said: \u201cThese are big numbers, but they don\u2019t mean much unless terms such as \u2018serious cyber-attack\u2019 are quantified.\u00a0How can we assess the global cost of an attack?\u00a0It could mean anything from a temporary interruption of service to the takeover of customer systems \u2013 with very different costs.<\/p>\n
\u201cIt\u2019s important for companies to conduct their own risk assessment and develop a strategy that\u2019s designed to secure corporate systems and mitigate the risk of an attack on those systems.\u201d<\/p>\n
The report also stated that average losses from operating systems crashing worldwide varied from US$9.7billion to US$28.7billion, with US$26billion not being covered by insurance.<\/p>\n
Written by Leah Alger<\/p>\n
Read more from DevOps Online<\/a> | Follow us on Twitter<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A global cyberattack could have similar affects as a natural disaster on the economy. According to a 56-page report by Lloyd\u2019s of London, global cyberattacks pose a huge risk to governments and businesses, resulting between US$4.6billion and US$53billion in economic losses. Designed to cause systems to crash in businesses operating systems, attackers push malicious codes…<\/p>\n","protected":false},"author":12,"featured_media":9525,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pmpro_default_level":"","footnotes":""},"categories":[1351,1158],"tags":[70,721,86,1486,1431,1484,1302,1485],"yoast_head":"\n