IBM has revealed that the UK energy sector was the primary target of 24% of all cyberattacks in the country last year.
The manufacturing and financial services sectors followed with 19% of all attacks. In 2021, the UK joined Germany and Italy as one of the three most targeted countries in Europe. The report further states that cyberattacks have an impact on consumers, which is a cause for concern, particularly in light of the increased pressure on the energy industry and rising energy costs.
The report recommends that critical industries need to establish robust cyber resiliency by implementing multifactor authentication, adopting a layered approach to combat phishing, refining and maturing vulnerability management systems and developing a response plan for ransomware.
Data theft the most common form of cyberattack
The most common cyberattacks in the UK are data theft, accounting for 31% of all incidents, and phishing, the top infection method responsible for 63% of incidents against UK businesses in 2021.
Simon Hepburn, CEO of the UK Cyber Security Council, says investment in training and professional development opportunities is crucial to expand the cybersecurity workforce.
In response to the growing security threat, the UK has taken significant steps to enhance its cybersecurity capabilities. One of these steps includes the publication of both the National Cyber Strategy and Government Cyber Security Strategy 2022-2030 reports by the government. The Network and Information Regulations have also been proposed for amendment to increase the cyber resilience of businesses in the UK.
Moreover, the government’s latest Annual Cyber Sector Report highlights the impressive level of investment made in the cybersecurity industry, which generated revenues exceeding £10 billion last year.
Another noteworthy development is the release of new guidelines by DNV last year aimed at improving the cybersecurity of protection devices and digital technologies used in power system substations. These guidelines offer 45 risk-reducing measures for power transmission and distribution operators as well as equipment manufacturers.
More information on IT security and articles on how to help keep your business safe can be found in our archives here.
