Security & Fraud

Cyberattacks Have Hit Majority Of Big UK Businesses

Hacking UK

The majority of large businesses based in the United Kingdom have been victims of cyberattacks in the past year, new research has posited.

As reported by BBC, the attacks have ranged across a gamut of activity, from spyware to viruses to malware, according to the U.K. government’s Cyber Governance Health Check, which offered up the Cyber Security Breaches survey. Roughly two-thirds of large businesses in the U.K. have been victims of that activity.

A full quarter of large firms have been hit by breach attempts on at least a monthly basis. The cost? In many cases, stated the study, millions of British pounds. Minister of Digital Economy Ed Vaizey stated that it was “absolutely crucial businesses are secure and can protect data … Too many firms are losing money, data and consumer confidence with the vast number of cyberattacks."

Turning back to the survey, the research showed that a majority of attacks, at seven out of 10, could have been prevented, and a scant 20 percent of all businesses understand just how risky information compromised in breaches can be.

As has been reported, the British government is investing as much as £1.9 billion ($2.7 billion) through the next five years aimed at preventing cyberthreats. Also, a new National Cyber Security Center will be established to help support businesses. A new national cybersecurity strategy will be published by the end of 2016, which will offer up security pointers across businesses, consumers and government agencies, said BBC.

——————————

PYMNTS TV LIVE OCTOBER SERIES: B2B PAYMENTS 2021 – WHAT WILL YOU CHANGE? 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment

TRENDING RIGHT NOW