Risk number 1 for companies would be Cybersecurity according to Allianz

IT security is the number 1 risk for businesses for 2020, as stated by the Allianz barometer today.

Increasing cybersecurity risks

From 15th place in the barometer 6 years ago, cybersecurity is today in the first place. Cybersecurity has become the top priority for companies. There are important changes over the internet that impact the IT world for businesses. In addition to the proliferation of computer attacks, the financial cost of these cybersecurity breaches has become significant.

For ransomware, the price has evolved from almost $10,000 per ransom to more than $1,000,000. This is partly because some insurance companies are pushing to pay a small ransom rather than investing in a team of IT people to restore the data. But there are also some “data restoration” companies which demand a higher price than the ransom requested by the hackers, so it makes the investment even higher, and hackers know that.

A global risk

Whether a private or public companies, associations or governments, everyone in society can be the target of a computer attack. A real burden for developers, because companies need to be efficiently protected 100% of the time, while hackers just need one good shot to take down a business.

The danger is constant, because cybersecurity does not only concern IT, but also all the people in a company. Con artists can manipulate certain people to get information from them or to encourage them to carry out certain actions in order to obtain certain access in the company.

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