As technology advances and our lives become increasingly digital, the threat of cyber crime continues to grow. Unfortunately, Ireland has not been immune to this trend. In fact, recent data shows that cyber crime has been on the rise in Ireland over the past few years and businesses need to take this issue seriously.
According to reports, there has been a significant increase in targeted cyber attacks on well-known Irish brands and organisations since the beginning of 2023. These attacks have targeted sensitive data, including personal information and financial details. This worrying trend highlights the need for businesses to take proactive measures to protect themselves and their customers.
Last year, cyber crime in Ireland is thought to have surpassed €10 billion. This staggering figure highlights the scale of the problem and the need for businesses to take a proactive approach to cybersecurity. With more and more companies moving their operations online, the threat of cyber crime is only set to increase.
Small and medium-sized businesses (SMEs) are particularly vulnerable to cyber attacks. In fact, recent studies suggest that one in three SMEs fell victim to cyber crime between May 2021 and April 2022. This is especially problematic, as SMEs often lack the resources and expertise to deal with cybersecurity issues effectively. As a result, they may be more likely to pay out to cybercriminals.
Shockingly, one in three SMEs that fell victim to cybercriminals paid out, with an average pay-out of €22,773. This not only puts the business at risk but also incentivises criminals to continue their illegal activities.
Businesses need to take cybersecurity seriously
Cyber crime is a growing problem in Ireland, and businesses need to take this issue seriously. The financial and reputational damage caused by a cyber attack can be devastating, and prevention is always better than cure. This means investing in appropriate measures to protect systems and data, such as firewalls, encryption, and regular software updates. Businesses should also provide training to their employees to ensure that they are aware of the risks and know how to protect the company.
If you want to learn more about how to reduce the chances of a cyber attack, check out our recent blog; 7 Tips For Creating A Culture Of Cybersecurity In Your Workplace.
Talk with the experts
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