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Two thirds of firms suffered cyber breaches in the last year, says UK government

Uk government cybersecurity

Two thirds of large businesses experienced a cyber breach or attack in the past year, according to new government research.

The research also showed that the most common attacks detected involved viruses, spyware or malware, which could have been prevented using the Government’s Cyber Essentials Scheme.

Additionally, the Cybersecurity Breaches Survey found that while one in four large firms experienced a breach at least once a month, only half of these took recommended action to identify and tackle vulnerabilities.

UK FinTech firms ‘raised $328m in Q1 2017’

Approximately a third of all firms, the report says, had a formal cybersecurity policy in place and only 10% had an established incident management response.

Speaking about the research, Ed Vaizey, minister for the Digital Economy, said: “The UK is a world-leading digital economy and this Government has made cybersecurity a top priority. Too many firms are losing money, data and consumer confidence with the vast number of cyber attacks.

“It’s absolutely crucial businesses are secure and can protect data. As a minimum companies should take action by adopting the Cyber Essentials scheme which will help them protect themselves,” he concluded.

Survey results were released alongside the Government’s Cyber Governance Health Check, launched following last year’s TalkTalk cyber attack, which found that around half of the top FTSE 350 firms perceived cyber attacks as the biggest threats when compared with other key risks; an increase from 29% in 2014.

If you’re interested in cybersecurity, check out our Cybersecurity Issue online.

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