Cyber attacks may cost Malaysia RM49.15 billion in economic losses
In 2017:
- Cyber attacks have led to job losses in 3 out of 5 organisations in the country
- Potential economic loss in Malaysia due to cyber-security incidents can hit US$ 12.2 Billion (equivalent to MYR 49.15 Billion)
- Delay transformation plans within organisations
Out of 1,300 business & IT decision makers:
- 17% experienced cyber-security incident
- 36% not sure if they have one, as they have not performed proper data breach assessment
What are the true cost of cyber-security incidents?
- Large sized organisation can possibly incur an economic loss of US$ 22.8 Million
- Mid-sized organisation can possibly incur an economic loss of US$ 36,000
- Damage to customer satisfaction & market reputation
Source: Digital News Asia - Cyber-security threats to cost Malaysian organisations US$12.2bil in economic losses
Find out how Chubb's Cyber Insurance covers business assets against the complexity of cyber threats here.
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The benefit(s) payable under eligible certificate/policy/product is(are) protected by PIDM up to limits. Please refer to PIDM’s TIPS brochure or contact Chubb Insurance Malaysia Berhad or PIDM (visit www.pidm.gov.my)
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