Understanding the Impact of Cyber Attacks on UK Businesses: Key Insights from the 2024 Cyber Security Breaches Survey

The latest Cyber Security Breaches Survey, published by the UK Government, paints a sobering picture: half of UK businesses experienced a cyber attack last year, with phishing being the most common threat. Despite this, many organisations still lack comprehensive cyber security measures.

Key Takeaways:

• Prevalence of Attacks: 50% of businesses reported cyber attacks; this figure rises to 70% for medium-sized and 74% for large businesses.
• Common Threats: Phishing affects 84% of businesses, followed by impersonation and malware attacks.
• Business Impact: Financial loss, operational disruptions, and reputational damage are significant consequences. The average data breach costs UK businesses ￡2.93 million.
• Cyber Hygiene Practices: There have been slight increases in the adoption of measures like malware protection, password policies, and network firewalls.
• Risk Management: Only 31% of businesses conduct cyber security risk assessments; 33% have security monitoring tools.
• Incident Response: Just 22% have formal incident response plans, though this is higher for medium (55%) and large businesses (73%).

The survey underscores the critical need for robust cyber security practices. Cyber attacks are evolving, and the days of "it won’t happen to us" are over.

At Assure Technical, we provide tailored cyber security solutions to enhance your security posture and protect against evolving threats. Our UK-based experts offer services like Cyber Essentials certification, penetration testing, and cyber awareness training, ensuring your business remains resilient.

How Assure Technical Can Help:

• Comprehensive, award-winning cyber security solutions
• Bespoke strategies tailored to your needs
• Strategic consultancy to ensure compliance with industry standards

Let’s stay proactive and safeguard our businesses from cyber threats.

Book your complimentary no-obligation consultation with Assure Technical today!

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