No matter the size or type of business, cybercrime is a growing threat that costs the UK economy billions of pounds every year. We understand that many businesses believe they won't be targeted, because they’re “too small” or they’re “already protected”, but it’s not enough.
Join us as we take a look at how cybercrime affects businesses and how we’ll help you take action…
So, from an economic perspective, how does cybercrime affect businesses? Well, cybercrime costs UK businesses an estimated £21 billion per year, with £9.2 billion lost to intellectual property theft alone.
About 22% of all businesses and 14% of charities have experienced cybercrime in the last year. The numbers are even higher for medium businesses (45%), large businesses (58%), and high income charities (37%). For medium and large businesses, the most disruptive cyber breach in the past year cost an average of £10,830.
We know how cybercrime affects businesses, but who does it affect? It's estimated that UK businesses have experienced around 30 million cyber breaches and 7.78 million cybercrimes in the past year. About half of all businesses and a third of charities reported a cyber security breach or attack during this time.
These numbers are even higher for medium businesses (70%), large businesses (74%), and high-income charities.
It’s also important to note that many cyber security breaches lead to follow-up crimes. For example, 50% of businesses and 32% of charities that experienced breaches ended up being victims of cybercrime.
It's dangerous to think your business is too small or not valuable enough to be a target of cybercrime. The truth is, almost every business will face a cyber attack at some point.
While many organisations have some defences in place, relying on the mindset of "we've got it covered" can be risky. Cybercrime is constantly evolving, and criminals are always coming up with new tactics. While it's impossible to be 100% protected, you can greatly reduce the risk.
A multi-layered approach to cybersecurity, including some basic, low-cost but effective steps, can help your organisation prepare for and respond to cyber incidents.
Here at Vivo, alongside our specialist partners, we understand that managing cybersecurity can be complex, costly, and time consuming. That's why we’re launching CyberGuard in September 2024, a service for the challenges posed by evolving cyber threats.
How CyberGuard aims to help businesses affected by cybercrime;
The CyberGuard managed service is designed to tackle threats head on, and the 24/7 service will ensure all bases are covered, so your business doesn’t fall victim to a cyber attack. For more information on why you should choose CyberGuard, get in touch with Andy, via email andy@vivocomms.co.uk, or call him on 07956 806945!
Want to find out more about how CyberGuard can protect your business? Download our e-book here.
Find out about Cyber Essentials - A government-backed scheme to help protect your business from online threats. Download here.
