Microsoft Ireland Study reveals almost half of Irish business experience cyber attacks in the last three years

Almost half of organisations in Ireland have encountered cyber incidents (46%), while 1 in 5 have suffered resulting financial loss, according to new research released by Microsoft Ireland.

Organisations in Ireland have maintained their spend on IT security protections and on building strong cybersecurity resilience, while providing regular training internally (57%). However, more than a quarter of organisations (26%) have indicated they won’t be investing in their IT security infrastructure in the coming year, despite the increasing number and intensity of cyber threats.

The study, carried out by Amárach Research among 200 top decision-makers across all industry sectors in Ireland, investigated the prevalence and nature of cyber incidents, as well as organisational preparedness for significant EU cybersecurity legislation – namely NIS2 – which is coming into effect in October 2024.

While it is positive to see the continued investment in cybersecurity and in training employees over the last three years, the research points to a sense of complacency setting in, with many claiming to have no plan to invest in cybersecurity in the coming year. Just 44% of organisations have risk assessments to identify vulnerabilities, while only 38% have a multi-layered strategy that includes prevention, detection, and response and recovery. Only 31% have a practiced IT continuity plan in place, with training and drilling.

Added to this is the fact that many leaders in Ireland are unaware of recent EU legislation, NIS2 which directly affects both multi-national organisations and large swathes of the SME sector in Ireland. Just one quarter (25%) of respondents were aware of the legislation, and of those, 31% have indicated they have an investment plan for their IT strategy to ensure compliance.

With increases in cyber-attacks that have greater sophistication and intensity, the report by Microsoft calls on leaders to not be complacent. It states that in just two years, the number of password attacks detected by Microsoft globally had risen from 579 per second to more than 4,000 per second (Microsoft Digital Defense Report 2023). Also according to the Microsoft Digital Defense Report, 80-90% of all compromises originate through unmanaged devices.

In Ireland, we can see from our research that just 14% of organisations are currently using AI technology as part of their cybersecurity strategy. However, 30% of leaders in Ireland say they are unsure if they are in fact using AI technologies for their security defence.

Microsoft Ireland National Technology Officer Kieran McCorry said: “Every day, Irish organisations are susceptible to and vulnerable to attack – as is evidenced by this latest piece of research. What is clear from this study is that cyber defences in Ireland are being compromised by the lack of a comprehensive cyber defence strategy, that is lived and owned by all decision-makers within organisations.  

“While it is positive to see that organisations are adopting training and cyber defence skills, true resilience requires continuous focus and investment in multi-layered strategic processes such as risk assessments and continuity planning. New EU laws such as NIS2 have been introduced to fast track such cyber defences across EU countries and it is imperative that Irish organisations are aware of and investing in the right infrastructure to ensure compliance.   

“Equally, it is clear from the research that executives in Ireland should be prioritising protection rather than managing their security reactively when an attack hits. Leaders can use new technologies to provide end-to-end security, while also weaving security into the fabric of everything they do, with a collective responsibility across all roles within the organisation.” 

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