IT Expert Leon Hawk about the big damages of cyber attacks

Not only large corporations, but also an increasing number of small and medium-sized enterprises (SMEs), which generally do not have their own IT officers, are now falling victim to cyberattacks and data theft.

In a broad-based study conducted by industry association Bitkom in 2015, 51 percent of the companies surveyed said they had been affected by industrial espionage, sabotage and data theft in the last two years. This resulted in damage of 51 billion euros per year. This corresponds to 1.75 percent of the annual gross domestic product (GDP).

With such enormous damage, every company should be aware of how serious the situation is.

It is better to invest part of your annual budget in IT security than to fall victim to a cyberattack afterwards and accept an existence-threatening loss for your company.