Cyber attacks as an existential risk for companies – How you should protect your company now

Why cyber attacks are increasingly leading to insolvency

In today's digital economy, we are seeing a dramatic increase in cyber attacks that not only disrupt business operations but have already caused serious financial difficulties for numerous companies. The consequences of a successful attack can be so severe that companies are temporarily shut down, unable to generate revenue and, as a result, put their economic existence at risk. Often, a cyber attack is not the only reason for insolvency – but it marks the critical turning point at which the ship can be lost.

A particularly drastic example: A medium-sized company recently fell victim to a hacker attack that paralysed all its IT systems and brought business operations to a virtual standstill. Invoices could no longer be issued and orders could not be processed. The attackers communicated directly via the company's own printers and demanded contact via the darknet. Despite immediate countermeasures, the company suffered for weeks from the consequences and ultimately had to file for insolvency. The economic damage caused ran into the millions.

Cybercrime – a risk for companies of all sizes

Cyber attacks are no longer a problem exclusively for large corporations. Attackers are now increasingly targeting small and medium-sized companies. Even companies that previously considered themselves safe from attack are increasingly affected. As recent reports from the German Federal Office for Information Security (BSI) show, the number of attacks on companies of all sizes and in all industries has risen steadily in recent years.

There are many reasons for this development: IT vulnerabilities, a lack of awareness among employees and, in many cases, an underestimation of the risk increase the likelihood of becoming the target of an attack. Modern attacks are often automated, no longer distinguish between industries and specifically seek out entry points in inadequately protected systems.

Active risk management for a secure company

Identifying vulnerabilities – the first step towards a secure organisation

The basis for a successful defence strategy is a realistic assessment of your own risks and vulnerabilities. Entrepreneurs should know exactly where the dangers lurk in their infrastructure, whether in technology, business processes or employee behaviour. Objective and regular reviews through vulnerability analyses, audits and risk assessments are essential here. This is the only way to derive and implement targeted and efficient measures.

A crucial point: it is not always technical weaknesses that enable an attack. The ‘human factor’ also plays an important role. If there is a lack of awareness of cyber threats within the company, even the most modern security tools are of little use. Phishing attacks and social engineering, in particular, are typically aimed at user behaviour.

Technology, culture and legal requirements – working hand in hand for greater security

Effective protection is about more than just technology. Companies should focus on their corporate and security culture. This includes regular training and awareness programmes for all employees, clear communication channels in emergencies and structured security management. Cybersecurity must be understood as a corporate responsibility that is lived at all levels.

Technology such as firewalls, virus scanners and encryption remain important, but they are only effective when combined with a culture of security. Legal requirements should not be neglected either: with laws such as the IT Security Act 2.0 and the NIS 2 Directive, companies are now obliged to bring their protective measures up to a new level.

Failure to comply can not only lead to production downtime, but also to heavy fines and massive damage to your image. The planned liability of managing directors for compliance violations makes the need for action even more urgent.

Conclusion: Act now and make your company fit for the future

Cyber security is a matter for top management – not just a technical issue

In summary, it is clear that cyber security today is much more than just IT technology. It is an integral part of a modern and resilient company. Those who ignore the risks knowingly put their own business and the continued existence of their organisation at risk – often with irreparable consequences.

The key to success lies in preventive and decisive action: start by identifying and assessing existing risks, invest in both technology and your employees, and actively monitor legal developments. Ensure that cybersecurity is understood and implemented at all levels of your company.

Support in implementing and developing your security strategy

If you are unsure about assessing your individual threat situation or would like support in implementing the legal requirements in a legally compliant manner and introducing appropriate protective measures, we are always available to advise and assist you. Our many years of experience in data protection and IT security make us a reliable partner for your challenges.

Feel free to contact us for a no-obligation initial consultation. Together, we can not only protect your company against current and future cyber threats, but also set it up in a sustainable and legally compliant manner.

Don't wait until an emergency arises – act now and make your company resilient!