Has a sensitive political and business environment in 2018 deflected attention away from security and left UK businesses less prepared for cyberattack? New research* has revealed that UK businesses are looking for greater support from the Government in the ever-growing battle against cybercrime.
According to the latest insights from RedSeal, nearly seven in ten (68%) IT bosses say their business has suffered at least one cyberattack in the past year. Almost a third (31%) also said the government does not offer businesses enough guidance or support on cybersecurity. The data also revealed that one in five (19%) of the UK businesses surveyed had no plan in place to deal with a cyberattack and that 65% of IT teams believe that their senior management needs to pay more attention to cybersecurity in 2019.
This latest research comes just two months after the National Cyber Security Centre’s second annual review where the Chancellor of the Duchy of Lancaster, David Lidington, gave a speech at the National Cyber Security Centre on why cyber security matters. He highlighted that the Government’s latest annual Cyber Security Breaches Survey had also revealed that more needed to be done. It flagged that only 30% of UK businesses have a board member with responsibility for cybersecurity and a small 10% require their suppliers to adhere to any cyber standards. Lidington also said that the Government’s next announcement on their cybersecurity strategy for UK business is planned for some time this month.
Ray Rothrock, CEO of RedSeal and author of the book Digital Resilience commented, “We commissioned this research to explore how prepared businesses are to continue operating during an attack. The number of high profile breaches has meant that 2018 has become the year where businesses are left wondering what more they can do to protect themselves, how to remain resilient, to keep operating and minimise customer damage. Our research highlights the fact that that senior IT bosses want the UK government direct more attention, money and resource to supporting their businesses in the face of cyberattacks.”
RedSeal’s research today, along with high-profile breaches such as the Marriot and British Airways in recent weeks and months, has only highlighted the ever-growing need for more to be done in the fight against cybercrime. Two-thirds (67%) of those that had been attacked in the last year stated that this had resulted in a financial loss, 37% in a loss of customers and nearly half (43%) suffered damage to their reputation.