Viruses go media
Over half of media and entertainment companies experienced three or more cyber attacks over a 12-month period. And such firms are uniquely vulnerable to cyber crime with their high-profile products and complex production processes, along with their extensive use of outside vendors, according to a survey conducted by Hiscox.
Viruses were the most common cyber incident among media and entertainment firms, cited by over one-third of respondents, followed by phishing schemes (29%) and data breaches (28%).
However, close to four-fifths of companies were confident that their cyber security strategy will prevent issues despite a reportedly high rate of attack. And two-thirds of respondents do expect to increase their investment in cyber security measures.
“Those companies that are most successful at avoiding the costs associated with a cyber-attack are the ones that spend the resources to prevent attacks before they happen, detect those that cannot be prevented, and mitigate the impact on the company,” says Dan Burke, cyber product head at Hiscox.