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Cyber Security

UK Cyber Security Strategy launch: new research reveals scale of cyber threat to business

As the British government unveils its new Cyber Security Strategy, new figures from Grant Thornton International Limited reveal the extent to which cyber attacks continue to grow as a threat to businesses worldwide. In the third quarter of 2016, nearly one in four mid-sized businesses* worldwide (22%) say they have faced a cyber attack in the last 12 months, compared to 15% a year ago. In the UK, the figure has shot up from 22% a year ago to almost 37% today.

Manu Sharma, Head of Cyber Security and Resilience at Grant Thornton UK LLP commented:

“Cyber attacks on businesses continue to accelerate and while there are plenty of measures firms can implement to boost security, support from government is also key. The UK is taking a leadership role in that sense, redoubling its efforts to protect businesses and consumers from online criminals.

“Businesses have told us that the nature of cyber attacks are diverse, from theft of customer details or intellectual property to extortion to causing damage to critical infrastructure. The response from leaders across the public and private sectors must therefore be equally comprehensive.

“Critical to the success of these prevention strategies is having people with the right qualifications in place to help prevent attacks and minimise their damage when they occur. It is encouraging to hear the British government say they will prioritise training and recruiting cyber experts and I hope a similar approach is taken elsewhere around the world too.”