The government has warned that much more needs to be done to combat cyber-attacks as the threat of attacks grows bigger.
Firms could face fines of up to £17m or 4% global turnover if they fail to protect themselves from these attacks.
The crackdown is primarily aimed at making sure essential services such as water, energy, transport and health firms are safeguarded against hacking attempts however, there is also a warning to SMEs as a company which suffered a cyber attack is fined £60,000 by the Information Commissioner’s Office (ICO).
Sally Anne Poole, the ICO Enforcement Manager said: “Regardless of your size, if you are a business that handles personal information then data protection laws apply to you.”
Businesses large and small are being urged to protect themselves against cyber crime after new Government statistics found nearly half (46%) of all UK businesses suffered a cyber breach or attack in the past 12 months.
The Cyber Security Breaches Survey 2017 reveals nearly seven in ten large businesses identified a breach or attack, with the average cost to large businesses of all breaches over the period being £20,000 and in some cases reaching millions. The survey also shows businesses holding electronic personal data on customers were much more likely to suffer cyber breaches than those that do not (51 per cent compared to 37 per cent).
Fraudulent emails is the most common form of attack with the emails aiming to trick staff into revealing passwords or financial information, or opening dangerous attachments – followed by viruses and malware, such as people impersonating the organisation online and ransomware.
Cactus would like to urge the importance of cyber-security and if you would like any more information on how to keep your business safe, please contact me on 0330 333 2 333 or email me on email@example.com.