The cyber threat to UK businesses is significant and continuously evolving. In the past few years large scale data breaches have become increasingly more frequent.
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The introduction of the General Data Protection Regulation (GDPR) on 25 May 2018 added new risks for companies should they experience a cyber-attack. Businesses must be able to demonstrate they are adequately protecting the data they hold on individuals. They must also report an attack to the Information Commissioner’s Office (ICO) within 72 hours of discovering the breach or they could face extreme penalties.

Here are some key statistics which show why the threat should not be ignored…

Top cybersecurity tips
  • Educate employees and implement staff training
  • Secure your networks and limit access to authorised personnel only
  • Regularly update your computer software, systems and create weekly backups
  • Purchase a cyber insurance policy to transfer the financial risk away from your business
  • Prepare a data breach response plan including step-by-step actions and test frequently
  • Keep privacy policies and security controls up to date committing to readiness and resilience

Sources:
1. Cyber Security breaches Survey, 2017
2. www.advantex.uk.com/cybercrime-infographic/
3. Ponemon, IBM Cost of Data Breach 2018
4. www.gov.uk/government/statistics/cyber-security-breaches-survey-2018