To mark this week’s Infosec Europe annual information security show in London, research commissioned by the Department for Business, Innovation and Skills (BIS), has suggested that the number of cyber attacks hitting businesses has increased over the last year.
The Information Security Breaches Survey found some attacks caused more than £1m of damage. It showed 87 per cent of small firms experienced a security breach last year, up 10 per cent. 93 per cent of large organisations had also been targeted. For the report in full visit – https://www.gov.uk/government/publications/information-security-breaches-survey-2013-technical-report
Universities and Science Minister David Willetts said: “Keeping electronic information safe and secure is vital to a business’s bottom line. Companies are more at risk than ever of having their cyber security compromised, in particular small businesses, and no sector is immune from attack. But there are simple steps that can be taken to prevent the majority of incidents. The package of support we are announcing today will help small businesses protect valuable assets like financial information, websites, equipment, software and intellectual property, driving growth and keeping UK businesses ahead in the global race.”
The research showed that:
87 per cent of small firms – up 10 per cent – experienced a security breach last year. 93 per cent of large organisations were also targeted
affected companies experienced around 50 per cent more attacks on average than a year ago
the average cost of the worst security breach for small organisations was between £35,000 and £65,000
the average cost for large organisations was between £450,000 and £850,000
the median number of breaches suffered was 113 for a large organisation and 17 for a small business
several individual breaches cost more than £1 million
78 per cent of large organisations were attacked by an unauthorised outsider (up from 73 per cent a year ago) and 63 per cent of small businesses (up from 41 per cent a year ago)
81 per cent of respondents reported that senior management had not been able to put in place effective security, even though it was classed a high priority
84 per cent of large businesses report staff-related cyber breaches (the highest figure ever recorded) and 57 per cent of small businesses (up from 48 per cent a year ago).
To help guard against these attacks, which can cost a small business 6 per cent of its turnover, Government is offering further funding and guidance. The Technology Strategy Board has extended a scheme to allow small and medium-sized enterprises (SMEs) to bid for up to £5,000 to improve their cyber security. BIS is also publishing a guide to help small businesses improve their cyber security and make it part of their business risk management process.
