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Cyber attacks putting enormous financial strains on Swedish companies

Friday, 11 November 2011
Internet hackers on the websites of Swedish companies are putting huge strains on the resources of companies in terms of time, money and their prestige.

According to a cyber-security expert, Marcus Murray who spoke on Swedish television yesterday, most cases are cost intense money only for the investigation itself which cost in the regions of hundreds of thousands of krona.

Swedish companies are exposed every hour to basic cyber attacks. "Noise" as it is called according to Joakim von Braun who is also cyber-security expert. But real-attacks occur much more rarely, he added.

Recently the exhibition games Gamex site was attacked by the hacker network known as Anonymous, according to reports.
“Anonymous is a new phenomenon. There is a fascination with technology here that few are familiar with, mysticism around hacking,” says Marcus Murray.

On the whole it is difficult to estimate the extent of the attacks as they will cost different amounts depending on the amount and type of information that was hacked up. Joakim von Braun mentions that there have been studies that show that a viral infection in a company will stop work for eight hours, or a full working day.

“If the staff will not work over an hour per day, it would take over three weeks to make up for that lost time. It costs a lot.”
Unlike a physical robbery, where after the event, it is often quite soon clear how much has been destroyed or captured, with a hacker it is attacks difficult in the beginning to determine how big the damage is.

“It is difficult to evaluate have much competitive advantage is lost, future lost business and such things” said Marcus Murray.

The company RSA, which makes a logging tool which many banks use to allow customers to log into their accounts, it happened that in May this year they were attacked such that it must have cost them hundreds of millions of dollars according to Marcus Murray.

“Not only was it a loss of prestige, their safety record had been bridged. They lost customers, but also to change a large amount of logging tools they were producing,” says Marcus Murray.
Unlike RSA, there are companies that go bankrupt due to hacker attacks.

Marcus Murray says that in the United States, by law officers of the company must report cases of hacking, but thinks that here in Sweden there is a tendency to put companies that have been attacked in the corner.

“If a bank robbed, we feel sorry for the bank and cashiers, but if a victim of hacking, we think that they are sloppy. It is an attitude we have to change in society,” says Marcus Murray.
Joakim von Braun agrees that we should change our view of those who have been subjected to cyber attacks.
By Scancomark.se Team

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