Cyber attacks on charities and businesses increasing – report

The survey of non-profit, private and public sector organisations found an increase in cyber security breaches and losses.

Joe Lepper | 14th Aug 19
Image of a person in a dark room looking at code, representing cyber attacks

More than six out of ten organisations, including those across the non-profit, business and public sectors, have suffered one or more cyber-attacks in the last year, according to a latest report.

The Cyber Readiness Report 2019 surveyed organisations across the UK, US and Europe and found that 61 per cent have experiences a cyber incident in the last year. This is up from 45% the previous year.

Losses from cyber attacks have also increased. The average loss is £291,000, compared to £180,000 last year.

> See also: Four charity cyber security trends for 2019

The report, by insurance firm Hiscox, found that supply chain incidents are a key cyber threat, with only around a half of firms (54 %) evaluating the security of their supply chains at least one a quarter or on an ad hoc basis.

The report also found that those in cyber security roles has increased. The number of organisations with no such role has fallen from 32% to 16% over the last year.

 

Cyber attack response

In addition, more organisations are responding to cyber attacks with concrete action.

“A year ago, almost half of respondents (47%) said they had changed nothing following cyber security incidents. This year, the figure has fallen by almost a third, to 32%,” said the report.

> See also: Top 10 cyber security resources for charities 

Gareth Wharton, Hiscox Cyber CEO, added: “The cyber threat has become the unavoidable cost of doing business today. The one positive is that we see more firms taking a structured approach to the problem, with a defined role for managing cyber strategy.”

Earlier this month the government launched a survey to better understand the cyber security labour market. This involves surveying charities as well as organisations in the private and public sectors. The research is being carried out by phone by Ipsos MORI from August to October 2019.

 

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