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In recent years, the number of cybercrimes committed has increased exponentially. Surprisingly, this does not align with the risk perception of Dutch companies, which massively underestimate the risk.
A report published by ABN AMRO in February 2022 indicates that only 33% of entrepreneurs classify cybercrime as a high risk. In 2021, 30% of surveyed entrepreneurs viewed cybercrime as a high risk. How can this be explained, and what are the consequences?
Not everyone underestimates the risk of cyberattacks. The ABN AMRO report shows that individuals working in the security field or fulfilling a crisis-related role assess the risk of cyberattacks significantly higher. However, many organizations do not adopt this perception, which is concerning.
Many crisis managers or security professionals encounter resistance within their organizations. A possible reason for this is the elusive and international nature of cyberattacks. A hacker can be physically located in one country while simultaneously executing a hack in another, sometimes hundreds or even thousands of kilometers away. The internet plays a crucial role in this.
Any company connected to the internet can become a victim of a cyberattack. This is difficult for many entrepreneurs with a local market to comprehend. They focus on local threats and overlook the international threats posed by the internet.
A second cause can be found in the legal domain. In the Netherlands, there are few laws, rules, and regulations concerning cybercrime and businesses. It is not even mandatory to report cyberattacks to authorities, unless the attack falls within the scope of the Dutch Data Protection Authority.
Therefore, for many entrepreneurs, it is unclear what the standard for cybersecurity is and how they can specifically improve it. This lack of clear standards can contribute to this misperception.
Risk perception determines the number of measures an organization implements. A low risk perception can lead to a lack of necessary measures. This is also supported by ABN AMRO's analysis. Consequently, a low risk perception can result in a higher risk of becoming a victim of cyberattacks.
The consequences of a cyberattack can be far-reaching and undermine the entire business operation. This applies to freelancers, SMEs, and large corporations alike. Therefore, it is crucial that these companies accurately assess the risk to their enterprise and implement appropriate measures.
Furthermore, during a potential cyberattack, the company must be able to counter it effectively, for example, by utilizing crisis management software.
Significant improvements can still be made in the area of risk assessment, where education can play a vital role. Do you also notice misperceptions in this area within your organization? Share this article and promote awareness!
For more information, you can find the ABN AMRO report here.
