Information and cyber security risks with decentralized work in Finland 2020

Remote working has increased dramatically due to the coronavirus (COVID-19) pandemic, bringing new challenges related to cyber security. 80 percent of large companies in Finland agreed in a 2020 survey that the decentralized working model increased information and cyber security risks. Meanwhile, only seven percent of the companies disagreed.

Online safety during COVID-19

While the world has been focused on the health and economic threats caused by the COVID-19 pandemic, cyber criminals have clearly attempted to take advantage of the crisis since the start of 2020. Both the likelihood and impact of cyber attacks is on the rise, as criminals are increasingly targeting major corporations, governments, and critical infrastructure. Online threats to businesses can take various forms, such as data breaches, phishing, malware and malicious spam emails that are used to mislead employees and customers. For instance, the risk of cyber fraud has significantly increased worldwide based on the 2020 data. It is also estimated that cyber crime will remain a major risk in the future, as both individuals and organizations become more technology dependent.

Preparedness for cyber security risks in Finnish companies

Finns made the quickest shift to remote working in Europe, and even 75 percent of employees moved entirely to home office during spring 2020. At the same time, digital transformation also creates new potential for cyber security vulnerabilities. Based on survey results from 2020, 87 percent of major Finnish companies perceived risks related to information and cyber security significant. However, over 90 percent of companies claimed in the same survey that they are prepared for information and cyber security risks.