Hackers inflict heavy losses on Israeli firms

The Israeli Globes website says the Israeli companies operating in the field of information systems have incurred during the first quarter of this year economic losses of nearly two hundred million shekels (about $55.4m), as a result of a series of cyber attacks.

According to the data, the total losses of the Israeli technology companies has doubled over this year, as the same period last year recorded a loss of one hundred million shekels (about 27.7 million dollars).

Globes quoted Shai Blitzblau, the General Manager of Mglan Information Defense & Intelligence Group, as saying that "the heavy losses primarily stem from the electronic intrusions which resulted in losing transactions and leaking trade secrets."