Two-Thirds of Irish Businesses Targeted by Cyber Attacks in Past Year

• •66% of Irish businesses faced at least one cyber attack in the past year.
• •30% incurred legal costs, and 29% reported lost revenue due to cyber incidents.
• •95% of businesses are confident in their ability to detect and contain breaches.

A recent survey revealed that 66% of Irish businesses experienced at least one cyber attack in the last year, with over a third facing multiple attacks. The research, conducted by Gallagher and CEBR, indicated that 30% incurred legal costs and 29% suffered revenue losses due to these incidents. Additionally, 22% of affected businesses were fined by regulators, while 32% reported being unable to serve customers during downtime. Despite these challenges, 95% of businesses expressed confidence in their ability to detect and contain breaches. However, there is growing concern about potential legal repercussions, with 70% anticipating shareholder or investor actions following serious incidents. The findings reflect an escalating threat landscape for Irish firms, prompting many to adopt cyber insurance policies.