Cyberattacks not reported to police and ransoms paid, as IoD finds cybersecurity not being taken seriously

The Institute of Directors (IoD) is warning that firms are not taking cyber security seriously enough.

The research, conducted with Barlcays, found that just 28% of cyber attacks are being reported to the police. Companies were found to prefer not to report attacks, despite 49% of attacks causing interruptions to business practices.

Richard Brown, Director EMEA Channels & Alliances at Arbor Networks, said: “The fact that cyber-crime is not being reported and businesses are paying hackers’ ransoms is very concerning. It will also be a worrying thought for many customers who will wonder whether their data has been compromised.”

91% of the business leaders surveyed said that cyber security was important, but only 57% had a formal stragey in place to protect their firm, with 20% having insurance for a cyber attack, and 21% considering it in the next 12 months. For the full article click here 

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