More and more companies are feeling the direct impact of cyber attacks on their operations. According to a study in charge by the insurer QBE, one in seven businesses in Europe and North America has suffered interruptions of at least one day as a result of a cyber incident in the last year. And the worrying does not end there: more than half of the affected companies responsible for vulnerabilities for their suppliers.
The research, elaborated together with Risks control, also reflects a 42% increase in significant cyber incidents between 2023 and 2024 on both continents, largely driven by the geopolitical context, especially the war in Ukraine. It is estimated that these types of attacks will be increased by additional 20% by the end of 2025.
Serene Davis, global cybersecurity responsible in Qbe Insurance, warns that the risk not only depends on internal measures: “Companies are more interconnected than ever. Of course they must have their own protections, but it is also essential to evaluate the safety of their suppliers. If one of them has a gap, it probably affects them. The due diligence is absolutely crucial.”
SMEs, the most beaten by the supply chain and the lack of preparation
59% of the businesses that suffered attacks indicate that at least one of them originated in the supply chain. In addition, almost half (49%) acknowledges having lost income as a direct consequence of cyber attack. The most vulnerable companies are those with between 100 and 2000 employees, especially in sectors such as technology, telecommunications and financial services.
Artificial Intelligence: Allied or threat?
The rise of artificial intelligence is transforming business expectations, but also offers new opportunities to cybercriminals. According to the report, 10% of successful attacks in 2024 used Deepfake technologies, while others directly aimed at manipulating AI models with malicious data or instructions that avoid restrictions.
Despite these risks, business enthusiasm for AI does not decay: two thirds of companies are already implementing it, and 86% consider that it will have a positive effect on their business in the next two years. It is expected to contribute to operational efficiency, innovation and more agile customer service.
More investment against cyber attacks, but with regional differences
Given this panorama, one in three companies plans to increase their budget in cybersecurity above inflation. Spain leads this trend with 44% of companies willing to invest more. As for insurance, 65%already has a cyber -protection policy, with especially high adoption in the United Kingdom (77%) and more lagged in countries such as Sweden (55%).
In conclusion, cyber attacks have become a daily challenge for many organizations, which must assume not only their own digital safety, but also that of their whole ecosystem of collaborators and suppliers. Resilience, according to QBE, will depend more and more on an integral vision of risk.
