Cybersecurity is emerging as the top concern for Moroccan companies in 2024, according to the findings of a new study by the Association of Information Systems Users in Morocco (AUSIM), called “Ausimètre 2024: Cybersecurity Barometer in Morocco.”
Conducted in collaboration with Price Waterhouse Coopers Morocco from November 30, 2023, to January 19, 2024, the study surveyed around a hundred Moroccan companies to gauge their sense of risk with respect to cybersecurity.
The research revealed that nearly all of the companies surveyed (90%) are grappling with cyber risks. 57% said they are facing digital and technological risks, and 40% are encountering environmental risks.
Asked to identify the main threats to their companies, 84% of respondents mentioned ransomware, 61% said data breaches, and 45% cited compromised email.
Concerning potential repercussions from cyber breaches, the study indicated that 84% of the companies fear leaks involving data of customers, employees, or transactions, while 65% are worried about harm to their brand reputation. 58% said they are worried about breaches compromising their operations.
Data breaches resulted in about 500,000 MAD in financial losses for one-third of the respondents, representing 32% of the polled companies over the past three years. 6% of the surveyed companies said they had financial losses in the range of up to 10 million MAD, according to the study.
Asked how much they invest in cybersecurity, 78% of respondents said they allocated as much as 25% of their technological investments to cybersecurity in 2023. 52% are considering increasing their cybersecurity budgets to 14% of their operating budget.