No business is immune to cyber security threats these days, as many as one-third of businesses have suffered an online attack in the last year which, whilst a reduction from the 43% from the year before, is still a huge proportion of businesses.
Digital minister Margot James said: “We know that tackling cyber threats is not always at the top of business and charities list of things to do, but with the rising costs of attacks, it’s not something organisations can choose to ignore any longer.”
Businesses typically have to spend £4,180 resolving an online cyber security attack where it has resulted in a loss of data or assets, which is £1,000 more than in 2018.
The Data Protection Act and the General Data Protection Regulations (GDPR) have helped businesses to cut down on cyber security attacks, forcing companies to make their websites and processes far more secure to avoid data breaches. Despite this, those businesses that have experienced attacks have endured a higher number since 2018, with the median breaches going from four in 2018 to six in 2019. Cyber security remains a big issue for business and will continue to do so..
Ms James added that businesses and charities are taking “cyber security more seriously than ever before”. She added, however, that only three out of ten have staff trained to deal with these threats, noting: “There is still a long way to go.”
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