• Half of UK businesses lack adequate protection against cybercrime

Almost half of British businesses lack adequate cyber protection, despite the massive cost of cyber security incidents, according to ISP provider Beaming.

Digital breaches cost UK businesses £34.1bn in the past year, the report revealed. Yet 44% of organisations surveyed only had basic levels of protection in place. The report added that 7% of companies admitted they had been hit by an attack in the last year, and they were found to have suffered an average cost of £16,264 per incident.
Large and medium sized businesses were shown to be twice as likely to be hit by malware than small businesses – with 21% of companies with more than 250 employees being attacked in the past year, compared to 11% of those with less than 100 members of staff.

Large businesses were also most at risk of data theft, with 16% having experienced a successful attack in the past year, compared with 12% of medium sized organisations and just 4% of small businesses. 
Sonia Blizzard, MD at Beaming, said: “We are seeing an arms race between businesses that rely on the internet and those who use it for malicious purposes.
“Leaders recognise that cyber attacks present a critical risk to their businesses, and that they must be more resilient to meet an increasingly sophisticated enemy. Enhanced encryption, network level monitoring and secure connectivity are must-haves for businesses today.”
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