Cyber attacks cost UK businesses up to £1m, according to BAE Systems

New research reveals cyber ignorance putting businesses at risk

Research has thrown further light on the evolution of cyber security from technical issue to board issue, with the average cost of an attack standing at £330,000. For one in ten UK businesses, according to research by BAE Systems, the cost of an attack is much higher – hitting up to £1 million.

79% of the UK businesses leaders surveyed believe that they have the appropriate security controls in place to defend against cyber attacks. Yet this confidence sits at odds with other findings from the research.

More than half (57%) of those surveyed said they had experienced a cyber attack in the past year, with one in five being in the dark when it came to knowing if their organisation has the right security controls in place. Of further concern is the fact that many of those surveyed who were confident about their defences had not tested their incident response plans for at least six months. For the full article click here 

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