A cyber attack is a computer attack by a person or a team of hackers to steal your personal and sensitive data, block your internet platform to slow down your activities or intrude into your computer system to destroy your material.
There are several forms of computer attacks, each of which has a devastating effect on the company’s computing device. Cyberattacks pose a real danger to businesses. It is, therefore, essential to understand them well to find adequate solutions. But ultimately, what are the consequences that these attacks can have?
The Physical Consequences
The first devastating effects of a cyberattack can be seen in the company’s IT equipment and facilities. Indeed, a computer attack can lead to the unavailability of the structure’s computer tools. A virus is a cyberattack that can contaminate the entire computer system and make it “sick”. Consequently, the contamination of computers, the loss of a site or the computer network, etc., are the potential physical effects that the company can feel following a computer attack.
These dangers can quickly prove problematic for any company whose smooth running of activities is firmly based on a computer device. These attacks aim to make the entity’s services or resources unavailable indefinitely. To achieve this result, the hackers send many requests to the company’s servers to overload them. Consequently, it is impossible for the company to consult or use them. In addition, to better succeed in their coup, these hackers can take control of computers located within the confines of the company using malware.
The Financial Consequences
The average cost of a company computer attack will be considered. The extent of the damage caused by a cyberattack, the diversity of blows to the company’s information system, the downtime of business activities and the size of the structure… It seems evident that a cyberattack is costly for the company.
Costs related to restoring business activities after a computer attack can be split into two categories: cyber crisis management costs and costs associated with repairing systems and equipment. It should also be borne in mind that these are direct costs accepted by society and that these incidents generate many indirect costs. The financial burden of a cyberattack for a company, especially for an SME, is very heavy to bear.
Furthermore, it would be consistent with recognizing the costs if the company is obliged to suspend these activities after the cyber incident temporarily. In this case, in addition to the direct and indirect costs induced by the attack, the company must pay daily operational expenses such as rent, employee salaries, utilities, insurance, etc. The structure, therefore, spends money without any input since these activities are interrupted. A cyberattack can consequently lead a company to bankruptcy: according to cyber cover, 60% of small businesses that have suffered a cyberattack go out of business within 6 months.
The Legal Consequences
The intrusion of hackers into a company’s system is also very risky from a legal point of view. Indeed, the company has legal obligations towards its customers and principals. The theft and publication of personal customer data or the hacking of a client’s computer system can cause serious legal problems for a company.
In addition, since the entry into force of the GDPR, there is no longer any question of ignoring a data breach: as a reminder, the company that is the victim of a cyber attack must declare the incident to the CNIL within 72 hours and notify, the where applicable, the persons affected by data theft.
The Reputational Consequences
Whatever the field of activity of a company, the element that allows it to attract and retain more customers is its reputation in the market. A cyberattack can quickly tarnish that reputation and cause the company to lose the trust of its customers. For example, a law firm that experiences these attacks can soon lose confidential documents. Following this incident, the entity’s reputation is tarnished, and customers will now find it challenging to use this company to benefit from its services.
Computer attacks can therefore have severe consequences for a company’s reputation. Above all, the company can’t pass over the incident in silence because it is necessary to inform the authorities.
In summary, the consequences of a cyberattack can be severe and lead to a company’s loss. It is essential to avoid finding yourself in such a situation by taking the necessary precautions, such as calling on a company that can help you protect yourself.