Cyber-attacks can generate exorbitant, relatively high costs.
This reality is now well known.
The repercussions– whether direct, indirect, immediate or deferred – are illustrated below, to highlight the scale and complexity of the consequences when a company falls victim to an attack. 
Like an explosion or an earthquake, a company goes through three main phases in time when it is hit by a cyber attack.
Escaping an attack in the long term is unlikely.
However, by
adequate preparation or protection, it is possible to reduce or even
reduce the impact, or even avoid some of them
Source : Inspired by “The essentials of digital security for executives, Edition 2021”.
To take up this diagram, which summarizes the various stages in the impact of a cyber attack on a company, here’s an analysis of each of them.
Crisis phase
The crisis phase occurs immediately after the cyberattack is discovered. This is also known as the peak of the crisis.
During this period, the company is faced with a series of urgent challenges and problems.
The main characteristics of this phase are as follows:
Interruption of operations
The attack may paralyze the company’s IT systems, networks or servers, bringing essential activities to a halt.
Employees may find themselves unable to access their data, communicate or carry out their usual tasks.
Crisis management
The company needs to set up a crisis management team to coordinate efforts to respond to the attack.
This team is responsible for assessing the impact, communicating internally and externally, coordinating with the relevant authorities and implementing immediate mitigation measures.
Forensic analysis
A thorough investigation by the authorities is required to understand the nature of the attack, the systems and data compromised, and to identify the security flaws that enabled the intrusion.
This forensic analysis is crucial to determining the extent of the damage and preventing future attacks.
Crisis communication
The company needs to communicate effectively with internal and external stakeholders, including employees, customers, business partners, regulators and the media.
It is essential to inform stakeholders of the incident, the steps taken to remedy it, and the next steps planned.
Blast effect
The blast effect refers to the longer-term consequences that follow the initial crisis phase.
This phase occurs in the months that follow and can last for weeks or even months, and is characterized by the following elements:
Loss of confidence
The attack can lead to a loss of trust in the company on the part of customers, business partners and the general public.
They may fear for the security of their personal or financial data, leading them to turn away from the company and seek other alternatives.
Financial impact
The company may suffer significant financial losses as a result of the attack, whether due to lost revenues, the cost of restoring systems, recovering data or implementing enhanced security measures.
Shareholders may also react negatively, leading to a fall in share value.
Damaged reputation
The attack can seriously damage the company’s reputation.
The media may cover the incident, amplifying the impact on the company’s image.
A bad reputation can be difficult to restore, and may result in the loss of new contracts or business partnerships.
Litigation and liability
The company may face litigation from parties affected by the attack, such as customers or employees.
It may also be held legally liable if negligence is found in its security measures.
Legal costs can mount up and prolong the blast effect.
Rebound effect
After passing through the crisis phase and the “blast effect”, the company can enter the “rebound effect” phase, in which it attempts to recover and rebuild.
The main characteristics of this phase are as follows:
Enhanced safety
The company implements enhanced security measures to prevent future attacks.
This can include improving infrastructures, implementing advanced security solutions, raising employee awareness of cybersecurity and creating a security culture within the organization.
Business resumption
The company focuses on getting back to normal operations.
This may involve restoring systems, recovering data, repairing damaged equipment or implementing temporary workarounds.
Rebuilding trust
The company implements communication and marketing strategies to regain the trust of stakeholders.
This may include transparent actions, providing information on security measures taken, demonstrating commitment to data protection, and providing redress or compensation to affected parties.
Things to remember
It’s important to stress that every company and every cyber attack is unique, and impacts can vary depending on many factors, such as company size, industry sector, data sensitivity, security measures already in place, etc.
Proper preparation and a rapid, coordinated response can help mitigate impacts and reduce recovery time.
That’s why we encourage our customers to be prepared and aware of cyber-attacks, so they can avoid them and manage them better.
