A major ransomware attack this week hit computers at Russia's biggest oil company, the country's banks, Ukraine's international airport as well as global shipping firm A.P. Moller-Maersk (pic).
LONDON: Businesses in Europe underestimate the "slow-burn" effects of cyberattacks and need to prepare more fully for a loss of customers, a fall in share price and other potential consequences, Lloyd's of London said in a report on June 28.
The risk of cyberattacks is rising and slow-burn effects are additional to short-term costs such as notifying customers, paying ransoms or public relations expenses, the report, written with consultants KPMG and law firm DAC Beachcroft, said.
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