Cyber security is a top priority for businesses and charities in the UK these days. The Government’s own Cyber Security Breaches Survey for 2023 is as revealing as ever.

In the last 12 months alone, 32% of businesses and 24% of charities have experienced a cyber security breach or attack. Whilst this is a decrease from 39% of businesses and 30% of charities in 2022, it still represents a significant number of organisations.

The most common type of cyber security breach is from the phishing attack. In 2023, 83% of businesses and 78% of charities that experienced a breach were targeted by phishing attacks. These attacks typically involve sending emails or text messages that appear to be from a legitimate source, such as a bank or government agency. The emails or text messages often contain a link or attachment that, when clicked, installs malware on the victim’s computer.

DDoS, Malware and Ransomware

Other common types of cyber security breaches include denial-of-service attacks, malware attacks, and ransomware attacks. Denial-of-service attacks involve flooding a website or server with so much traffic that it becomes unavailable. Malware attacks involve installing malicious software on a victim’s computer, which can steal data, damage files, or disrupt operations. Ransomware attacks involve encrypting a victim’s data and demanding a ransom payment to decrypt it.

The impact of cyber security breaches can be significant. In 2023, 24% of businesses and 18% of charities that experienced a breach suffered financial losses. The average financial loss for businesses was £37,000, and the average financial loss for charities was £13,000.

Reputation Management

Cyber security breaches can also have a negative impact on a company’s reputation. In 2023, 16% of businesses and 11% of charities that experienced a breach saw their reputation damaged.

There are a number of steps that businesses and charities can take to improve their cyber security posture. These steps include:

• Implementing strong security controls, such as firewalls, antivirus software, and intrusion detection systems.
• Training employees on cyber security best practices.
• Keeping software up to date.
• Being aware of the latest cyber security threats.
• By taking these steps, businesses and charities can help to protect themselves from cyber security breaches.

In addition to the steps listed above, businesses and charities can also benefit from working with a trusted cyber security partner like ITSD. As your cyber security partner we can help to assess your organisation’s cyber security posture, identify vulnerabilities, and implement solutions to improve IT security.

Cyber security is an ongoing challenge, but it is one that can be managed. By taking the steps outlined above, or better still, speaking with ITSD, businesses, charities, and other organisations can help to protect themselves from cyber security breaches and the negative consequences that they can have.