Irish businesses: Two-thirds of Irish businesses hit by cyber-attacks in past year

Irish Businesses Face Rising Cyber-Attack Threats with Significant Financial and Operational Fallout

A recent survey of 250 Irish businesses, conducted by insurance broker Gallagher in collaboration with the Centre for Economics and Business Research (CEBR), reveals a sharp increase in cyber-attacks over the past year. Two-thirds (66%) of organizations reported experiencing at least one attack, with over a third targeted more than three times. The findings underscore the growing financial and operational risks as cybercrime becomes more frequent and sophisticated.

For businesses hit by attacks, the consequences were severe: 30% incurred legal costs, 29% lost revenue, and 22% faced regulatory fines. Nearly a third (32%) were unable to serve customers due to downtime. Michael Cunningham, Head of Financial Lines at Gallagher, warned that the financial impact extends beyond immediate recovery costs, including reputational damage, shareholder litigation, and potential bankruptcy.

Despite the high attack rate, Irish businesses remain confident in their defenses, with 95% believing they could detect and contain a breach even if an attacker remained hidden for an extended period. However, legal concerns are mounting: 70% expect shareholder or investor lawsuits following a serious attack, and 84% recognize that company directors could face personal liability.

While 72% of businesses now hold standalone cyber insurance policies covering areas like business interruption (56%), third-party legal costs (50%), and ransomware payments (42%) Cunningham emphasized that insurance alone is insufficient. Robust employee training, system monitoring, and access controls are critical to improving resilience against evolving threats.

Source: https://businessplus.ie/news/irish-businesses-cyber-attacks/

Enterprise Ireland cybersecurity rating report: https://www.rankiteo.com/company/enterprise-ireland

"id": "ENT1785335259",
"linkid": "enterprise-ireland",
"type": "Cyber Attack",
"date": "7/2025",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization's existence"

{'affected_entities': [{'customers_affected': '32% unable to serve customers '
                                              'due to downtime',
                        'location': 'Ireland',
                        'type': 'Businesses'}],
 'description': 'A recent survey of 250 Irish businesses reveals a sharp '
                'increase in cyber-attacks over the past year, with two-thirds '
                '(66%) of organizations reporting at least one attack and over '
                'a third targeted more than three times. The financial and '
                'operational impacts include legal costs, revenue loss, '
                'regulatory fines, and customer service disruptions.',
 'impact': {'brand_reputation_impact': True,
            'downtime': True,
            'financial_loss': True,
            'legal_liabilities': '30% incurred legal costs; 70% expect '
                                 'shareholder/investor lawsuits; 84% recognize '
                                 'director personal liability',
            'operational_impact': 'Unable to serve customers due to downtime '
                                  '(32% of affected businesses)',
            'revenue_loss': '29% of affected businesses'},
 'lessons_learned': 'Robust employee training, system monitoring, and access '
                    'controls are critical to improving resilience against '
                    'evolving threats. Insurance alone is insufficient for '
                    'cybersecurity.',
 'ransomware': {'ransom_paid': '42% of businesses with cyber insurance cover '
                               'ransomware payments'},
 'recommendations': ['Implement robust employee training',
                     'Enhance system monitoring',
                     'Strengthen access controls',
                     'Maintain standalone cyber insurance'],
 'references': [{'source': 'Gallagher and Centre for Economics and Business '
                           'Research (CEBR) survey'}],
 'regulatory_compliance': {'fines_imposed': '22% of affected businesses faced '
                                            'regulatory fines',
                           'legal_actions': '70% expect shareholder/investor '
                                            'lawsuits; 84% recognize director '
                                            'personal liability'},
 'response': {'enhanced_monitoring': '95% of businesses believe they could '
                                     'detect and contain a breach'},
 'stakeholder_advisories': 'Company directors could face personal liability '
                           '(84% of businesses recognize this risk)',
 'title': 'Rising Cyber-Attack Threats on Irish Businesses',
 'type': ['Cyber-Attack', 'Ransomware']}