75% of companies have suffered confidence-damaging cyber-attacks

A new report by FTI Consulting indicates that more companies are coming under scrutiny for their business practises and behaviour.

The top three areas of investigation worries are: business conduct and the treatment of customers, sustainability and ESG practices, and the relationship with public bodies and government contracts. According to the report, a quarter of UK respondents identified each of these areas as major concerns. The services sector and financial sector were the most likely to report experiencing regulatory or political scrutiny over the past 12 months (23% each).

Potential emerging crises

 According to The Resilience Barometer the nature, severity and potential trajectory of these threats are forcing companies to embed resilience on more fronts:

Growing cybersecurity threats: 75% of companies surveyed suffered a cyber-attack in the past 12 months, with a rise in phishing attacks among the most prevalent type with 25% experiencing a loss of customer/patient data, and a further 23% reporting a loss of third-party information.

Class actions and mass consumer claims: 13% of respondents experienced these in the past 12 months, and 12% expect this to continue in the next 12 months.

The “Great Resignation”: Over the last 12 months, 28% of companies surveyed have experienced a shortage of talent and skills, and 72% have reported increased mental health issues in their workforce since the start of the pandemic.

Edward Westerman, Global Investigations Initiative Leader at FTI Consulting commented: “The ever-changing landscape will put the onus on companies to take a proactive stance regarding investigations. Leveraging new technologies and data and analytics can help companies efficiently manage an ongoing investigation and help mitigate the risk of future crises.”