Want Cybersecurity Protection in 2023? You Need to Start Now

Moody’s Investors Service finds EMEA cyber risk is rising

According to the latest analysis from Moody’s Investors Service, overall cybersecurity risk in EMEA is rising. Both public and private sector, and across all industries, will feel the impact of cybersecurity on corporate profitability and credit markets.

Invest in your cyber defense today to protect your 2023 profitability.

 

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Moody's key cyber findings

 

While the forecast shows headwinds for EMEA organizations, now is the time to ensure that cyber defense costs won't hurt profitability in 2023.

 

Moody’s found that while cyber attacks have not “yet severely damaged credit quality in Europe,” there may still be unavoidable challenges arising in the future.

38% of all EMEA cyber attacks in 2022 were “directly related” to the conflict, while the remainder of attacks were broad-based.

67% of EMEA organizations have either basic or intermediate cybersecurity performance, as measured by Bitsight.

54% of European companies have reported a cyber attack to the board while only 11% publicly reported the incident.

Government/politics, education, and telecommunications organizations in EMEA have the weakest cybersecurity performance.

BitSight Security Ratings

Preparing for the 2023 cyber landscape

Organizations have responded to a rise in cyber attacks by increasing their cybersecurity budgets, but that’s no panacea for today’s threats. The truth is many organizations inefficiently allocate cybersecurity resources, leading to ballooning budgets alongside lagging cybersecurity performance.

Make the right cybersecurity decisions with Bitsight security ratings and analytics. With Bitsight, organizations can:

  • Confidently identify and mitigate risk across your attack surface with the only Security Rating that is independently verified to breach risk and stock performance.
  • Confirm the effectiveness of your cybersecurity controls with Security Ratings built on a data-backed view of your entire network’s performance.
  • Approach cyber decision-making with access to the most reliable and expansive data across the cybersecurity industry.
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BitSight and Moody's

The Moody's & Bitsight partnership

This research is the latest in a series of Moody's reports showcasing Bitsight data. Bitsight contributed proprietary data to this research initiative, including:

  • Security data collected and analyzed on over 300,000 companies
  • Aggregate, anonymized loss data on over 10 years of cyber loss events
  • Graded open ports and patching cadence datasets

In 2021, Moody’s announced a $250 million investment in Bitsight. Bitsight is proud to partner with Moody’s on research initiatives with the goal of helping the market communicate cyber data in the credit analysis process.

See how Bitsight can quickly assess and reduce your cyber risk

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