Swiss companies expect more cyberattacks

Companies expect more cyberattacks - AI exacerbates the situation Keystone-SDA

Swiss companies are expecting significantly more cyberattacks in the coming 12 months. Four out of five companies expect an increase in economic crime offences, according to a study by Lucerne University of Applied Sciences and Arts (HSLU).

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Cybercrime is growing significantly faster than the number of traditional offences such as fraud, embezzlement or corruption, according to the HSLU study published on Friday. More than 80% of the companies surveyed expect an increase in this area. This means that cyberattacks are becoming the biggest risk for companies.

The role of artificial intelligence (AI) is double-edged. Just under half of companies see it as an opportunity to minimise economic crime risks and uncover incidents more quickly, according to the report.

+ Explainer: how vulnerable is Switzerland to cyber-attacks?

At the same time, AI facilitates fraud attempts. According to the authors of the study, AI makes it significantly easier to create fake identities or manipulate payment receipts. Around two-thirds of the companies surveyed therefore see a high risk of falling victim to AI-based fraud attempts.

Many companies are also inadequately prepared. According to the study, only around half systematically record risks. “Every second company lacks knowledge about existing and new risks,” says study author Susanne Grau from the Institute of Financial Services Zug (IFZ) at Lucerne University of Applied Sciences and Arts.

The HSLU study was conducted in collaboration with the Association of Certified Fraud Examiners (ACFE) Switzerland Chapter and is based on 64 data sets. It was aimed in particular at decision-makers in the areas of legal, compliance and risk, as well as members of management.

Translated from German by DeepL/ts

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