According to a new Cyber Roundup Report published by Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and mid-market businesses, companies with revenues surpassing $50 million (£40.5m) are 2.5 times more likely to experience cyber incidents.
The report, based on an extensive three-year data set from over 46 million SMEs across the US, UK, and Japan, offers unique insights that set it apart from other global studies.
In addition to highlighting the increased frequency of cyber attacks among larger organisations, the report also emphasises the greater vulnerabilities faced by smaller SMEs, which often lack sufficient cybersecurity resources.
It also addresses the growing threat of supply chain attacks and the specific cyber risks associated with different industries.
Cowbell founder and CEO Jack Kudale commented: “The digital age has opened up some incredible avenues for business growth. But in the same breath, it’s also brought a complex set of cyber risks. Across the board, we’re seeing cybercriminals capitaliSe on interconnectivity, automation, and emerging tools like AI to launch increasingly sophisticated attacks.”
