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UK businesses are more concerned about online threats than the financial costs

Wednesday 16 December 2015 13:44 CET | News

Most IT businesses in the UK have become less concerned about the financial costs they incur, than about increased cyber threats, according to a report.

According to the recent Information Security Breaches Survey, conducted by PwC and commissioned by Fujitsu, the average cost of data breaches at large organisations is between GBP 1.4 million and GBP 3.14 million.

86% of respondents rated security as the most important to their business; however, more than half of IT professionals spend less than a quarter of their budget on improving security.

Statistics from the survey show that almost 10% of UK companies did not know how many cyber security attacks they had in the past year, while a further 14% had no idea about how they had occurred.

Despite this though, the research did reveal that many organisations are becoming increasingly aware of the risk and opportunities surrounding cyber security, as well as becoming more actively engaged in cyber security preparedness.


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Keywords: online fraud, online security, cyber security, fraud prevention, financial costs, UK, online threats
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime






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