Businesses face 'highest risk level in a decade'

The increasing threat of cyber attacks and China's troubles have set a difficult global backdrop.

by Rebecca Smith

Bad news if you were hoping 2016 will be an improvement on this year: businesses are going to be facing the 'highest level of risk in a decade' (yes, apparently that includes the financial crisis too). That's according to a global risk map put together by consultancy firm Control Risks.

Apparently the worldwide risk outlook stands at eight out of ten – you can thank China’s economic slowdown, terror attacks and hacking for that. When it comes to British businesses specifically, you’ll be unsurprised to learn that cyber attacks remain a particular thorn in their side.

Control Risks found that the number of targeted criminal cyber attacks doubled over the past 12 months, while politically motivated hacking attacks also rose by 56%. No wonder recent research showed that security specialists are reaping the rewards, charging upwards of £10,000 a day as executives scramble to up their protection. Nice work if you can get it – as Control Risks would tell you.

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