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Economy

Survey: Cyber Attacks A Big Threat to Greek Enterprises

November 17, 2020

ATEHNS — More than 50 pct of medium and large enterprises in Greece are expected to be threatened by some kind of cyber attack during 2020, the Federation of Hellenic Enterprises (SEV) said in a survey released on Tuesday and it urged enterprises to pay attention to this threat.

The survey said that the dangers of cyberspace have risen dramatically and, while the pandemic accelerated the digitalisation of public organisations and enterprises, there has not been a corresponding upgrade and revision of security systems and policies. "A serious incident could upset the smooth operation of an enterprise, even put its survival at risk," the Federation said, adding that cyber attacks could damage the credibility of an enterprise, inflict financial damage, interrupt production, lead to theft of ownership rights or the leaking of confidential information, interrupt access to data bases, or even lead to extortion for the release of data. It could also bring legal dangers due to a lack of personal data protection," the survey said.

SEV said that a Deloitte and MAPI survey for 2018 showed that 40 pct of industrial enterprises were hit by security problems, extortion incidents grew 35 times, economic damage from security breaches related to Internet of Things networks totaled 330,000 euros on average and the economic damage from an attack on data totaled 7.5 million euros on average. SEV said that these numbers grew strongly in 2019 and were expected to rise further due to the pandemic crisis.

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