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Businesses and the fear of cyber attacks

Digital technology has given rise to all kinds of new opportunities and conveniences in our world. However, it has also been a source of new fears. This includes fear of cyber attacks. A recent study suggests that this fear is a significant one in the business world.

The study surveyed business continuity and resilience executives at hundreds of companies throughout the globe. The respondents were polled about what threats to business continuity they were worried about. The top worry among the respondents was the threat of hackers and cyber attacks. Of the surveyed companies, 88 percent cited this threat as something they were “concerned” or “extremely concerned” about.

The threat that held the No. 2 spot among the respondents was also cyber-security-related: the threat of data breaches.

One wonders what impacts cyber-security-related fears are having on the conduct of businesses?

There are many fears a business may have when it falls victim to a cyber attack. This includes fears that it could face litigation from customers and other businesses in connection to the effects of the attack. When facing such litigation, a business might be quite worried about the potential financial implications the dispute could have.

Given this, understanding its legal situation and what options it has for addressing the issues coming out of this situation can be critical for a business in the wake of a cyber attack. Attorneys skilled in commercial litigation matters can provide legal guidance to companies here in Florida dealing with the aftermath of a cyber attack.

Source: Insurance Journal, “Cyber Attacks Remain at Top of List of Business Continuity Worries: Survey,” Tim Ross, Feb. 21, 2017

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