Cybersecurity Risks Are Higher Than Ever And Are Proving Costly

Cybersecurity is an increasing concern for companies. Last April, the UK Department for Business, Innovation & Skills (BIS) published the 2014 information security breaches survey: technical report. The report comprises the findings from two online questionnaires completed by 1,125 respondents, and contains a number of important cyber-attack statistics for both large organisations and small businesses.

The results indicate that while UK businesses are paying more attention to cybersecurity, the scale and cost of security breaches has nearly doubled in the past year, with losses from the worst breaches ranging between £600,000-£1,500,000. In the United States, the number of companies reporting concerns about cybersecurity to U.S. regulators more than doubled in the past two years. to 1,174.