More than half have confidence in their ability to withstand cyber-attacks.
A quarter of businesses surveyed who had cyber physical systems (CPS) environments suffered cyber-attacks with a financial impact of $1 million.
According to research from Claroty of 1,100 cybersecurity, OT engineering, clinical and biomedical engineering, and facilities management & plant operations professionals, 27 percent reported the financial impact of $1 million. Several factors contributed to these losses, the most common being lost revenue (selected by 39 percent of respondents), recovery costs (35 percent), and employee overtime (33 percent).
Also, 53 percent of respondents paid ransom demands of more than $500,000 to recover access to encrypted systems and files. This problem is particularly severe in the healthcare sector – 78 percent reported ransom payments over $500,000 – as ransomware and extortion-based attacks on hospitals and clinical environments continue to run seemingly unabated.
However, respondents conveyed growing confidence and improvements in their organization’s risk reduction efforts, with 56 percent having greater confidence in the ability of their organization’s CPS to withstand cyber-attacks today, versus 12 months ago.
Written by
Dan Raywood
Senior Editor
SC Media UK
Dan Raywood is a B2B journalist with more than 20 years of experience, including covering cybersecurity for the past 16 years. He has extensively covered topics from Advanced Persistent Threats and nation-state hackers to major data breaches and regulatory changes.
He has spoken at events including 44CON, Infosecurity Europe, RANT Conference, BSides Scotland, Steelcon and ESET Security Days.
Outside work, Dan enjoys supporting Tottenham Hotspur, managing mischievous cats, and sampling craft beers.
