Covid-19 exposes UK cybersecurity vulnerabilities
UK SME’s are at risk of 65,000 cybersecurity attacks daily – with around 4,500 of these being successful – and the figure could be much higher since the beginning of Covid-19.
The findings come from a new report by global recruiter Robert Walters and data provider Vacancysoft – Cybersecurity: Building Business Resilience – which claims that the cost of data breaches to UK companies is around £2.48 million per instance. Highlights of the study are:
- 65,000 cybersecurity attacks on UK SMEs daily.
- 4,500 are successful.
- Data breach costs UK companies £2.48m per instance.
- 44% of the public would not use the brand again if their data was to be breached.
- 48% of UK companies do not have adequate cybersecurity to support home working.
Online retail at risk
Half of the consumers (44%) have stated that they would stop using a company online if they were to be breached during a cyber-attack – concerning news for many retail and service operators who have pivoted their business to be more online-centric in response to widespread lockdown measures.
In May 2020 alone, e-commerce transactions grew by 168% and currently represent 27.5% of total retail sales this year – this is expected to grow to represent a third (32.1%) of all retail sales by 2024. Read more.......
