The government has published its 2017 Cyber Security Breaches Survey, which provides a way for you to compare the effectiveness of your cyber security efforts and learn how you can improve them. By examining last year’s mistakes, your organisation can better adapt its cyber security efforts to protect the private data of customers and the organisation itself.

Here are four key figures from 2016:

  1. Forty-six per cent of all UK businesses reported at least one cyber breach or attack last year, a 22 per cent increase.
  2. Seventy-four per cent of UK organisations have stated that cyber security is a high priority for them, an increase of 4 per cent over the previous year. The increase could be attributed to more organisations educating their staff about the dangers of cyber threats as well as the high volume of attacks on UK organisations.
  3. Seventeen per cent of cyber security breaches experienced in 2016 were caused by ransomware, which was the fourth-most common type of cyber breach, after fraudulent emails, malware and people impersonating organisations, respectively. While ransomware may seem like less of a priority, its effects can be severe, causing business disruptions, partial or complete loss of important data, and loss of reputation.
  4. Sixty-seven per cent of all UK organisations have spent money on their cyber security. What’s more, is that 52 per cent of all organisations have enacted the basic technical controls that were outlined in the government-endorsed Cyber Essentials scheme.
  5. Fifty-seven per cent of UK organisations have established procedures to identify cyber security risks, an increase of 6 per cent.

Whilst the majority of the figures outlined in the report saw an improvement over the previous year, cyber security should still be top of mind. To help ensure that your cyber security efforts are thorough and comprehensive, periodically have a cyber security professional inspect your organisation to identify any potential gaps in your cyber defences. In addition, provide your employees with annual training on how to identify and handle cyber threats.

If you would like to protect your business and have cover in place for the following:

  • Third Party Cyber Liability: £250,000
  • Breach Response Services: 5,000 Individuals
  • Cyber Extortion, Cyber Business Interruption & Cyber Data Protection: £100,000

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