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Frequency of Cyber Attack is increasing, and the consequences for businesses are growing – the latest data!

Posted: Wednesday, July 17, 2019

Author: Rob Ward

55% of UK businesses reported being a target of Cyber Attacks – a 37% increase on 2018.

The data shows that businesses were targeted on average 119,659 times by internet based Cyber Attacks in the first three months of 2019. That’s roughly 1 attack every minute and is a massive 221% increase in the number of Cyber Attacks being conducted in 2018.

So what’s the impact of this increase in Cyber Attack activity for UK business?

1 in 5 businesses reported a Cyber Attack had prevented staff from working, and IBM’s ‘2018 Cost of Data Breach’ study put the average cost of a data breach at £2.95 million with the cost per lost or stolen record at £113. These costs include the impact of reputational damage, customer loss, fall in stock price, recovery costs and increased insurance costs, but exclude direct fines which have potentially increased massively with the introduction of GDPR.

It’s clear that the likelihood of your business suffering a Cyber Attack, and the costs to UK business of a successful Cyber Attack and consequential data loss, is growing. Businesses need to take cyber security increasingly more seriously.

View our easy to digest infographic here that details a whole host of UK cyber security facts that all businesses need to understand in 2019.

* UK figures from the Department for Digital, Culture, Media and Sport Cyber Security Breaches Survey 2019: Statistical Release

 

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