This is according to the latest research from the Department for Culture, Media and Sport
Nearly half of all UK businesses have suffered a cyber attack over the last year, with some individual incidents costing victims several millions of pounds in damages.
This is according to the Department for Culture, Media and Sport (DCMS) in its latest Cyber Security Breaches Survey, with the lowest cost of damage being £20,000. More than 1,500 UK businesses were surveyed between October and January. The DCMS added businesses holding electronic personal data were more likely to suffer breaches than those who do not (51 per cent compared to 37 per cent).
Nearly a quarter of those surveyed also admitted to having a temporary loss of files from a breach, whilst a fifth had their systems and software corrupted. One in 10 saw their websites taken down or slowed.
Fraudulent emails attempting to fool staff in revealing pass were cited as the most common breach, followed by viruses and malware. The research comes after the government pledged to invest £1.9 billion in September last year to protect UK businesses from cyber attacks.
National Cyber Security Centre CEO Ciaran Martin said: “UK businesses must treat cyber security as a top priority if they want to take advantage of the opportunities offered by the UK’s vibrant digital economy.
“The majority of successful cyber attacks are not that sophisticated but can cause serious commercial damage. By getting the basic defences right, businesses of every size can protect their reputation, finances and operating capabilities.”