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More than half of Irish companies to increase spend on cyber security in 2016

Written by Robert McHugh, on 31st Mar 2016. Posted in Technology

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New research shows that 20% of Irish businesses have fallen victim to ransomware attacks, a serious form of cybercrime that sees hackers hold a business’ sensitive and critical data for ransom.          
          
This is according to the results of a 2016 Information Security Survey carried out by Data Solutions.

The Irish distributor for IT solutions claims that 80% of businesses upgraded their IT security in the past year and that more than 55% of companies expect to spend more on security measures in 2016 than they did in the previous year.          
          
More than 40% said that they considered brand and reputational damage to be the main risks of a data breach with just 0.8% saying they would consider job loss their primary concern.  
          
The survey was carried out in association with TechPro magazine among 137 senior IT decision makers in Irish businesses during February and March 2016. The full results of the research will be revealed at the Data Solutions Secure Computing Forum taking place in the Mansion House, Dawson Street, Dublin 2 on 12th May.          
          
Group Managing Director at Data Solutions, Micheal O’Hara says, "The fact that 80% of businesses are upgrading and changing their security infrastructure is reassuring, but it begs the question what are the other 20% doing? Cybercriminals are forever changing their approach and businesses need to constantly adapt to keep up."

He added, "Every business has sensitive or mission critical data and ultimately it would come down to a business decision if that was under threat. Less than 10% have complete confidence in their information security measures and this highlights the pressing need for companies to take the threat of these and other forms of cyberattacks more seriously."

Source: www.businessworld.ie

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