Results from the Cyber Security Breaches Survey have been released alongside the government’s Cyber Governance Health Check scheme (which was launched after the TalkTalk attack). It found almost half of the top FTSE 350 consider cyber attacks as the biggest threat to their business compared with other key risks (significantly up from 29 per cent in 2014).
Britain’s businesses are being urged to better protect themselves from cyber criminals after government research into cyber security found two thirds of large businesses experienced a cyber breach or attack in the past year. The research also shows that in some cases the cost of cyber breaches and attacks to business reached millions, but the most common attacks detected involved viruses, spyware or malware that could have been prevented using the Government’s Cyber Essentials scheme. 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.