Half of all businesses have been hit by security breaches in the past 12 months, according to the government's fifth Cyber Security Breaches Survey 2020, released today.
And the risks are greater, the larger the organisation.
The survey also found that medium sized businesses and large businesses are even more at risk with 68 per cent and 75 per cent, respectively, of such organisations being affected.
And charities aren't immune either. Overall, 26 per cent of charities suffered at least one security breach over the past year, but for major charities this figure increases to 57 per cent.
Since the first Survey was conducted five years ago, these figures have boomed, but the report also claims that organisations are becoming more resilient to security breaches. "They are less likely to report negative outcomes or impacts from breaches, and more likely to make a faster recovery," the Survey concludes, but adds: "Breaches that do result in negative outcomes still incur substantial costs."
Furthermore, of the 46 per cent of businesses report a breach, just one-in-five admit to suffering from either a loss of money or data.
The Survey also indicates that CEOs and other senior managers have woken up to the existential threat posed by cyber attacks, with 80 per cent of business respondents claiming that cyber security is a high priority for senior management, with that figure rising to more than 90 per cent in major businesses.
Not surprisingly, perhaps, the business sectors where cyber security took the highest priority were finance and insurance; information and communications; and, health and social care, where data protection is considered vitally important.
The Cyber Security Breaches Survey 2020 involved a telephone survey of 1,348 business and 337 registered charities and was conducted between October and December last year. Thirty in-depth interviews were then carried out in January and February 2020 to gain deeper, more qualitative insights. Sole traders and public-sector organisations were outside the scope of the survey.
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