Cyber risk is now considered to be the top concern for businesses

Report shows shock fall in business preparedness

Cyber-attack is the top threat perceived by businesses, according to the fourth annual Horizon Scan report published today by the Business Continuity Institute (BCI), in association with BSI. Supply chain disruption is reported as the fastest rising threat, up 11 places since last year. 

The annual BCI Horizon Scan assessed the business preparedness of 760 organizations worldwide and shows that three quarters (82%) of Business Continuity Managers fear the possibility of a cyber-attack, with 81% worried about the possibility of unplanned IT outages and 75% data breaches similar to that suffered by Sony in 2014. A recent industry report1 highlights the annualized cost of cyber-crime per global company now stands at $7.6 million, a 10.4 per cent year-over-year increase. 

This year’s global top six threats to businesses are:

  1. Cyber-attack
  2. Unplanned IT and telecoms outages
  3. Data breach
  4. Interruption to utility supply
  5. Supply chain disruption
  6. Security incidents