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Key findings from the Cyber Security Breaches Survey 2016

Posted by: Sam Wheeler
25/07/2016

The latest Cyber Security Breaches Survey, which was issued by the Government and carried out by Ipsos MORI in partnership with the Institute for Criminal Justice Studies at the University of Portsmouth, has found that two thirds of large businesses experienced a cyber breach or attack in the past year.

The key findings, according to the Government website are as follows:

- 65% of large firms detected a cyber security breach or attack in the past year
- 25%of these experienced at least one breach per month
- £36,500 is the average cost of a breach to large businesses
- £3m is the most costly breach identified in the survey

The full breakdown of findings can be found here:

According to the survey, the most common attacks were related to viruses, spyware or malware. However, just 29% of UK companies have written cyber security policies and only 10% of businesses have "formal incident management processes", the study found. In addition, the results showed that many businesses have not implemented cyber security measures in line with the Government’s guidance, in particular the ‘10 steps’ guide, or provided cyber security training to staff in the last year.

 

(Source: www.gov.uk)

Considering that the UK’s digital economy is fundamental to its competitiveness and with more and more firms embracing the internet to do business and find new customers, Cyber security is a high priority activity for 90% of large businesses in the UK. A new national cyber security strategy will also be published in the autumn of this year, setting out the Government’s plans to improve cyber security for Government, businesses and consumers.

The Minister for the Digital Economy Ed Vaizey has said, “The UK is a world-leading digital economy and this Government has made cyber security a top priority. Too many firms are losing money, data and consumer confidence with the vast number of cyber attacks. It’s absolutely crucial businesses are secure and can protect data. As a minimum, companies should take action by adopting the” Cyber Essentials Scheme” which will help them protect themselves.”

 

 

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