Ransomware and phishing attacks cost Irish businesses almost €10bn last year

Report also notes a 100% increase in computer viruses and a 20% increase in phishing attacks

Phishing and ransomware attacks, along with credit and debit card fraud, and operational technology-focused attacks have all increased. Picture: iStock

Cybercrime including phishing and ransomware attacks costs the Irish economy €9.6bn last year new research has found.

The Economic Cost of Cybercrime report published by Grant Thornton’s Cyber Security said the figure comes from the direct and indirect costs incurred due to cyber-attacks against businesses, individuals, and the government.