IDEAS home Printed from https://ideas.repec.org/a/ajp/edwast/v8y2024i6p9245-9252id3980.html
   My bibliography  Save this article

The impact of cyber-attacks on companies and organisations in developed countries

Author

Listed:
  • Ali Khalid Diwan Kazim
  • Nisreen Riad Shanshul

Abstract

Cyber-attacks are a growing threat to businesses and organisations in developed countries. They bring about significant financial losses, operational disruptions, and a decline in customer confidence. It is estimated that cybercrime could run up the global economy to $10.5 trillion annually by 2025 in comparison to $3 trillion in 2015. For example, British companies ran into losses estimated at $55 billion during 2018–2023 as a result of these attacks. These attacks go after vital sectors such as financial services, energy, and healthcare. They disrupt daily operations and bring on direct and indirect financial losses. In addition, the loss of sensitive data can bring down corporate reputation and lower customer and investor confidence. To deal with these challenges, it has become necessary to step up cybersecurity investments and work out sophisticated defence strategies.

Suggested Citation

  • Ali Khalid Diwan Kazim & Nisreen Riad Shanshul, 2024. "The impact of cyber-attacks on companies and organisations in developed countries," Edelweiss Applied Science and Technology, Learning Gate, vol. 8(6), pages 9245-9252.
    • Handle: RePEc:ajp:edwast:v:8:y:2024:i:6:p:9245-9252:id:3980
    as

    Download full text from publisher

    File URL: https://learning-gate.com/index.php/2576-8484/article/view/3980/1509
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ajp:edwast:v:8:y:2024:i:6:p:9245-9252:id:3980. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Melissa Fernandes (email available below). General contact details of provider: https://learning-gate.com/index.php/2576-8484/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.