The nature of losses from cyber-related events: risk categories and business sectors

The study looked at the losses incurred from cyber attacks on 49,496 organizations from 2008 to 2020, many based in the US. Over half the companies had been attacked more than once, with the Information, Professional Scientific and Technical Services, and Finance and Insurance companies suffering the most loss. The attacks often focused on the privacy of the company, as well as data breaches. The frequency and severity of the cyberattacks varied between sectors and did not correlate, but were extremely costly on average. The study also recommends several practices for businesses to enact to mitigate the damage caused by cyber-attacks.