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The cyber attack threat in North America

June 7, 2016

The Internet of Things, where the cyber and physical worlds collide, is fueling the accumulation of cyber risks for North American companies.

The cyber attack threat in North America

The Internet of Things (IoT), where the cyber and physical worlds collide, is fueling the accumulation of cyber risks for North American companies.

Cyber risk facts

  • Cybercrime costs USD 100 billion in the U.S. in 2014.1
  • U.S. companies lead the world in cybercrime losses.2
  • Cyber attacks are seen as the #1 threat to U.S. businesses.3

Who's at risk for cyber attacks

Businesses in all industries and of all sizes have been affected by the increased complexity, novelty and persistence of cyber attacks.

Where does cyber risk come from?

  • Malicious criminals are responsible for 41 % of cyber attacks.2
  • Human error is responsible for 33 % of cyber attacks.2 

Key takeaways about cyber risk

  • Businesses need to take into account the cumulative effects of cyber risks.
  • At the beginning of the development process, evaluate what assets you are putting at risk and establish measures to protect those assets.
  • Establish 360-degree risk assessments and scenario-based analysis. 
  • Build cyber resilience through stress testing.
  • Manage cyber risks at the board room level.

Learn more on how to manage your cyber risk at www.zurichna.com/cyber

 

Sources:
1.   Global Risks Report 2016
2.   Ponemon Institute 
3.   According to the World Economic Forum’s (WEF) Executive Opinion Survey, businesses in eight countries (including Japan, Germany and the U.S.) consider cyber risks the top concern to doing business.   (http://reports.weforum.org/global-risks-2016/)

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