Government committed to investing £1.9billion to protect nation from cyber-attacks
76% of UK CEO’s believe cyber risks to be a significant threat in 2017
67% of UK businesses have spent money on their cyber security in the last 12 months
Information, communications and utilities sector will spend the most
New Government statistics have revealed half of UK businesses suffered a cyber security breach or attack in the last 12 months; rising to two-thirds among medium sized businesses (66%) and large businesses (68%.)
In fact, the ‘Cyber Security Breaches Survey, 2017’ has claimed nearly 7 in 10 businesses have identified a breach on some level. Firms holding personal data are more likely to face an attack (51%); compared to 37% of business who do not hold personal data.
Rebootonline.com sought to discover what the most common attacks experienced by businesses are. Fraudulent emails (72%) was the highest, followed by viruses, spyware and malware (33%.) A further quarter suffered temporary loss of files, whilst one fifth had software or systems corrupted. 1 in 10 lost access to third party systems they rely on, and 1 in 10 had their website taken down or significantly slowed.
Subsequently, three in five (58%) businesses have sought information, advice or guidance on the cyber security threats facing their organisations over the past year.
Ciaran Martin, CEO of the National Cyber Security Centre adds: “Most successful cyber-attacks are not that sophisticated, but can cause serious commercial damage. By getting the basic defences right, businesses of every size can protect their reputation, finances and operating capabilities.”
Per research carried out by PwC, 76% of UK CEO’s believe cyber risks to be a significant threat to business in 2017. Consequently, 97% of British CEO’s are currently addressing possible cyber breaches in their organisation; far higher than the global average figure of 90%.
The findings – based on a research sample of 1,379 global leaders, including 126 UK CEO’s – show UK leaders are significantly more concerned about cyber threats than many of their global peers (UK 76%; global 61%) who do not consider cyber security breaches to be a heightened threat to business.
Richard Home, UK cyber security partner at PwC comments: “Most business boards now recognise that cyber security is a complex risk that requires their attention. The most successful leaders will be those who define a comprehensive, broad approach to governing cyber security.”
Reboot Online Marketing looked to analyse exactly how much each UK industry is willing to spend on their cyber security measurements.