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Nearly 3 million UK businesses experienced a cyber-security incident in 2017

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Nearly 3 million UK businesses experienced a cyber-security incident in 2017

More than half of businesses in the UK were victims of cybercrime last year, according to a new report by Beaming. The report says that 2.9 million UK firms, or 52 percent, experienced some form of cyber-security incidents, costing them 29.1 billion.

Most common incidents included virus infections and phishing attacks. Both of them have an equal share of attacks --23 percent. Less than a fifth (18 percent) went on hacks and data breaches.

The report also states that the bigger the company, the bigger the chances of a cyber-attack. Almost three quarters (71 percent) of organizations with 250 employees or more suffered a cyber-attack, while less than a third (31 percent) of those with 10 or less people suffered the same fate.

The weight of these incidents has placed them in the boardroom. A third (30 percent) of companies had discussed cyber-security in senior leadership meetings, up from 18 percent just a year ago.

More than half a million of businesses in the UK signed up for cyber-insurance policies, for the first time in their existence, the report said, before adding that almost a fifth (19 percent) of UK companies are now covered for cyber-attack-related losses.

"Large organizations are more likely to become a victim of cybercrime due to being more valuable targets and because employees are often the weakest link in the cyber security chain," comments Sonia Blizzard, managing director of Beaming.

"They are also more resilient as they have resources to aid their recovery. Successful cyberattacks on smaller businesses are less frequent but cause disproportionately more harm. It is encouraging they are taking the threat more seriously and investing in their cyber defenses, as a single attack could potentially break them."

Published under license from ITProPortal.com, a Future plc Publication. All rights reserved.

Image Credit: Jirsak / Shutterstock


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