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Cyber

Cyber attacks may cost Malaysia RM49.15 billion in economic losses

06/2022
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In 2017:

  • Cyber attacks have led to job losses in 3 out of 5 organisations in the country
  • Potential economic loss in Malaysia due to cyber-security incidents can hit US$ 12.2 Billion (equivalent to MYR 49.15 Billion)
  • Delay transformation plans within organisations

 

Out of 1,300 business & IT decision makers:
 

  • 17% experienced cyber-security incident
  • 36% not sure if they have one, as they have not performed proper data breach assessment

 

What are the true cost of cyber-security incidents?

  • Large sized organisation can possibly incur an economic loss of US$ 22.8 Million
  • Mid-sized organisation can possibly incur an economic loss of US$ 36,000
  • Damage to customer satisfaction & market reputation

 

Source: Digital News Asia - Cyber-security threats to cost Malaysian organisations US$12.2bil in economic losses

Find out how Chubb's Cyber Insurance covers business assets against the complexity of cyber threats here.

 

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