A Cyber Attack will Disable 40,000 Companies

The cyber system is preparing for a “thing scenario” and a “premiere blow scenario” that deal with the possibility of dramatic cyber attacks against Israel that will cause the economy NIS 1.6-5 billion in damage. The array’s annual report for 2020 also shows that last year there was an escalation in the number of cyber attacks on Israel, 2,000 bodies did not repair loopholes in their systems despite the warnings.

A broad cyber attack on the State of Israel could lead to the shutdown of 40,000 companies in Israel for two and a half days, and to damage to the economy amounting to NIS 5 billion per economy – this is the estimate prepared in the national cyber system under the name “Scenario Scenario”. Another assessment – the “premiere blow scenario” – deals with the possibility of a broad cyber attack on 25 financial entities in Israel, including banks and insurance companies. Such an attack would result in a ten-day shutdown with damages amounting to NIS 1.6 billion. The scenarios are part of the State of Israel’s preparedness for “cyber catastrophes” and are included in the annual report of the National Cyber Network, which is published today.

The report shows that the cyber system acted proactively and alerted companies and organizations in Israel to 6,750 different vulnerabilities in their systems, but about 2,000 organizations in Israel have not yet done anything about it and are completely exposed to cyber attacks.

The year 2020 was characterized by an escalation in the number of cyber attacks against companies and entities in the State of Israel, “the report stated. In the past year, the cyber system has dealt with about 800 assault incidents at about 1,400 entities in the economy, in some cases monitoring the treatment of private cyber defense companies. The report does not present an estimate of the total number of cyber attacks on Israel in 2020.