Cyber Security Breaches Affected More Than Half of UK Firms in 2016

Heidi Finigan | Last Updated:

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UK Cyber Attack breaches

According to a new study, as many as 2.9 million companies bore the brunt of cyber-attacks in 2016 and suffered losses amounting to 30 billion Pounds. The study conducted by the business internet provider Beaming claims that about 54% of British businesses had to deal with some kind of cyber-attacks in 2016.

The study also found that the most common cyber threats were phishing attacks and viruses. In fact, they both affected about 23% of the businesses participated in the survey. About 18 percent of the businesses suffered from a data breach or hack. The risk of falling a victim to cyber security breaches seems to increase with the increase in the size of the business. In fact, 71 percent of businesses that employ more than 250 people fell prey to cybercrime last year. However, only about 31 percent of businesses that employ less than ten people had to contend with this issue in 2016.

Companies have also woken up to the dangers they face. A third of them now discuss the issue during senior leadership meetings. In fact, over half a million UK firms bought cyber insurance policies in 2016. The study also found that small firms are increasing their investments in cyber security.

If you’re a company owner, you can keep your assets protected by using a trusted VPN (Virtual Private Network) provider. If the VPN connection is encrypted, the information that you’re sending and receiving cannot be intercepted by hackers or spying agencies (such as your ISP).

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