Britain’s businesses are being urged to better protect themselves from cyber criminals after research by the UK government into cyber security found two thirds of large businesses experienced a cyber breach or attack in the past year.
The Cyber Security Breaches Survey found that while one in four large firms experiencing a breach did so at least once a month, only half of all firms have taken any recommended actions to identify and address vulnerabilities. Even fewer, about a third of all firms, had formal written cyber security policies and only 10% had an incident management plan in place.
From this, it is clear to see why cyber attacks and data breaches rank as the top two threats to organizations, as highlighted in the Business Continuity Institute's latest Horizon Scan Report. The vast majority of respondents to a global survey (85% and 80% respectively) expressed concern about the prospect of these threats materialising.
Ed Vaizey, UK Minister for the Digital Economy, said: "Too many firms are losing money, data and consumer confidence with the vast number of cyber attacks. It’s absolutely crucial businesses are secure and can protect data."