ANZ businesses lost 10% of their revenue from cybersecurity attacks, Fastly research reveals

Cyberattacks have had significant economic and reputational effects on businesses in Australia and New Zealand (ANZ), with the average company losing 9% of revenue in the past year, according to a report from Fastly. It also highlighted the average seven-and-a-half-month recovery period from the loss of client trust following an attack. Looking ahead, 76% of firms plan to raise their cybersecurity budgets, with a focus on generative AI. However, recruitment issues, including a lack of skilled professionals, continue to be a problem.