Cyberattacks – rising in numbers and sophistication
Cybercriminals are becoming increasingly more sophisticated. Not only are they changing who and what they target, they are affecting organisations in different ways using attack methods adapted for different security systems. Adding to this challenge are rapidly evolving workplace requirements as the pandemic continues – shifting an attack surface expanded by employees who use an array of IoT, mobile, cloud, and internet-enabled devices. This, combined with advancing technology, widens the playing field even further for attackers who have breached 39% of UK businesses and 26% of charities in the last 12 months alone.
As a result, the average cost of all UK cyber security breaches in the past 12 months reached £8,460. Aside from severe financial damage, cyberattacks can lead to business continuity disruption, loss of competitive advantage, heavy regulatory fines, and reputational damage that can be hard to recover from. Information risk management has never been more important.