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Global Infection by contagious malware

Global Infection by contagious malware

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SUMMARY

Read the interview with the report author Trevor Maynard

This report analyses the impact of a ransomware attack on governments, companies, and the insurance sector. The scenario in the study explains that in a hypothetical scenario, the potential damage to the global economy as a consequence of a global cyber- attack caused by a malicious email, could range from $85 billion to $193 billion.

According to estimations, the insurance industry could also have to pay claims between $10 billion and $27 billion in the worst-case scenario.

Retail, healthcare, manufacturing, and banking are the sectors that would suffer the most from this hypothetical cyberattack, the paper notes. Besides, organizations that rely on more connected systems would suffer a higher and lost-lasting impact on their revenues.

In geographical terms, regions, where the output of the economy is more reliant on manufacturing, healthcare, mining and other primary sectors, would also suffer a higher impact.

This scenario puts the emphasis on the relevance of raising awareness of the risks, helping organizations to evaluate the impact it could potentially cause and incorporating adequate responses as part of their business practices.

 

 

OUTLINE

Executive Summary and Introduction

Bashe attack

Impacts on the economy and economic losses 

The cyber insurance market

Insurance industry loss estimation

Conclusions, References, Annex

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
Global Infection by contagious malware
Region
Global
Published
Sept. 9, 2019
Publisher
CyRiM
Price
FREE
Language
ENGLISH

Content

Number of Pages
79
Number of Tables
10
Number of Exhibits
14
Topics
security
Tags
cyber security, CyRim, data protection, financial services, global, healthcare, insurance, malware, privacy, ransomware, retail, security, smart technology, transportation
Companies mentioned
Maersk, FedEx, Abbott, Deutsche Bahn, Renault
Methodology
Not available.
EVALUATION

The strength of this report is that the utterly shocking case study of the impact that a ransomware attack could have on governments, companies, and the insurance sector demonstrates how vulnerable the world has become to cyber crime. This report is an excellent read and conveys a very strong message to all companies and governments – big or small: Be prepared! 

Positives:

  • Clear language
  • Quality content
  • Plenty of examples
  • References

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