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Digital Risk - The Big Issue

Almost two-thirds of companies have suffered "significant" financial damage as a result of IT systems failures in the last year, according to research by the Economist Intelligence Unit (EIU).

The Digital Risk survey of 218 senior risk managers found 60 per cent have incurred losses due to systems failure, while a third suffered financial damage as a result of hacking and phishing attacks.

More than half (55 per cent) said the biggest challenge companies face in tackling IT risks is the growing sophistication of hackers and cyber criminals, and slightly less than half (48 per cent) said IT and security problems pose a high risk to their business operations. Silicon.com

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