Cyber & Data risks are an exposure that no modern business can escape, and the financial impact of system interruption, privacy and cyber-crime events are now felt across all sectors.
According to the 2020 Cyber Security Breaches Survey, conducted on behalf of the UK Government, almost half of businesses (46%) report having cyber security breaches or attacks in the last 12 months. As in previous years, this is higher among medium businesses (68%) and large businesses (75%).
Many businesses feel that they are unlikely to be the target of a Cyber incident, sadly this is certainly not the case.
The 2020 Cyber Security Breaches Survey shows that;
• The most common types of claim were; Phishing attacks 86%, Impersonation 26% and Viruses, Spyware or Malware 16%.
• 33% of the medium and 35% of the large businesses that have identified any breaches or attacks, suffered at least 3 different types of attack.
• Businesses that hold personal data have a higher than average likelihood of experiencing breaches or attacks (55% versus 46% overall). This highlights the importance of protecting this information.
Learn more on our latest informational booklet “Cyber & Data Risks – Understanding the Threats and How to Protect Your Business”