The Reality of Cybersecurity and Its Impact on the Cost of Cyber Incidents: A Field Study at Masraf Al-Jumhouria - General Administration, Tripoli

Abstract

This study aimed to evaluate the reality of cybersecurity and its impact on the cost of cyber incidents at Al-Jumhouria Bbank (General Administration – Tripoli). The study population consisted of specialists in the IT, Risk Management, and Internal Audit departments. A questionnaire was distributed to a purposive sample of (28) participants, of which (24) valid questionnaires were retrieved for statistical analysis, representing a response rate of (85.7%), while the loss rate was (14.3%). The findings revealed a statistically significant impact of risk management performance and internal audit processes on reducing the costs associated with digital incidents. The study also indicated that the efficiency of financial aspects allocated to cybersecurity significantly lowers recovery expenses. The study recommends integrating cybersecurity standards into periodic audit plans, increasing financial allocations to upgrade technical defenses, and enhancing administrative coordination to reduce response time and potential damage costs.