A new Grant Thornton report estimates the total cost of cyber attacks to businesses worldwide in the past 12 months has reached $315 billion.
One in six businesses have experienced cyber attacks during that period with companies in Europe and North America as among the top targets, Grant Thornton said Sept. 22.
Grant Thornton surveyed 2,500 business leaders in 35 economies for the study.
Paul Jacobs, global lead of cybersecurity at Grant Thornton, said the research also shows that 74 percent of respondents are most concerned about potential threats to the financial services sector.
More than half of respondents say they have a cybersecurity strategy in place.