Nearly 60% of Romanian companies to boost cybersecurity budget, survey reveals

Over half of Romanian companies are looking to increase their spending on cybersecurity, safeguarding their data against hackers, while a little over a quarter want to boost defense measures already in place.

Companies in the local market are becoming increasingly aware of the dangers posed by hackers. Over 90% of them believe that a cyber attack can seriously damage their day-to-day, according to the Tax & Cyber survey ran by consulting giant EY and cited by Agerpres.

Roughly three-quarters of the companies surveyed said that they have a department dedicated to the defense against cyber-attacks, or that they outsourced the service to an external partner. At the same time, nearly half (46%) of respondents admitted to their companies having areas that are not well covered by existing cyber defenses.

Worryingly, 38% of those who responded to the survey believe that all their companies’ data is vulnerable in the event of a cyber-attack. The remainder believed their financial and fiscal data to be most vulnerable, followed by the commercial data and, to a lesser extent, the data related to human and legal resources.

EY’s Tax & Cyber survey was conducted among Romanian companies with over 100 employees. A total of 77% of the abovementioned companies had a turnover of EUR 10 mln or more and were active in industries as diverse as retail, construction, agriculture, financial services, and transportation, among others.

EY is one of the largest consulting firms globally. It has 700 offices in 150 countries and has been present in Romania since 1992, providing integrated audit, tax, legal, strategic, and transactional assistance services. EY employs over 800 people in Romania and the Republic of Moldova.

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