John Daly: Firms need to wake up to cyberattack risks as more staff work from home

As a country, and especially in the light of Covid-19, we need to be more vigilant and prepared, says Hiscox Ireland MD Richard O'Dwyer

Hackers are becoming increasingly intelligent.

The recent Hiscox Cyber Readiness Report 2020 found that 41% of the 335 Irish firms surveyed had experienced at least one cyberattack event in a six-month period from September 2019 to February 2020.

Subsequently, 22 of those firms paid a ransom following a ransomware attack. One of the companies suffered total cyber losses of €17.8m, and the largest single event cost the company approximately €4.5m.