In our increasingly interconnected world, cyberattacks pose a serious concern, and the potential financial damage of these attacks is more surprising now than in the past. An Economic Times Report claims that a major cyber attack might cost the world $3.5 trillion! This figure emphasizes how urgently strong cybersecurity safeguards are needed to protect people, companies, and governments. In this blog, we will look into the key findings of this report and explore how organizations can protect themselves with the help of Kratikal’s compliance services.
The $3.5 trillion estimate is a realistic assessment of the possible worldwide economic effects of a significant cyber attack. This staggering expense includes several repercussions, such as:
Cyber attacks can lead to direct financial losses for organizations, stemming from data breaches, ransom payments, and operational disruptions. These losses can run into billions for large corporations.