Broker Says About UK Business Damage From Cyberattacks

Insurance broker Howden on Monday, November 25, released information according to which over the past five years in the United Kingdom, businesses have lost approximately 44 billion pounds ($55.08 billion) due to cyberattacks.

It is worth clarifying that the mentioned indicator implies lost revenue. Also, 52% of private sector companies reported that they had experienced at least one cyberattack in the last five years.

Howden’s data shows that attacks in virtual space, in terms of economic damage caused, are on average equivalent to 1.9% of their revenue. Most often, cyberattacks are faced by firms generating an annual revenue exceeding 100 billion pounds.

Also, according to the insurance broker, the most common causes of cyberattacks are compromised emails, at 20%, and data theft, at 18% of cases.

At the same time, information released by Howden indicates that only 61% of businesses used antivirus software, and only 55% leveraged network firewalls.

It is worth noting that the relevance of the issue of cybersecurity is high. To a large extent, this circumstance is associated with the development of advanced technologies, in particular artificial intelligence. As a result of the use of digital functional solutions of a new generation, the activities of cybercriminals have become more sophisticated. One of the tools to counteract the relevant threats is the personal awareness of users. For example, a query in an Internet search engine, such as how to know if my camera is hacked, will allow anyone to get information about signs of unauthorized access to the device.