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UK firms being hit with more cyberattacks

April 23, 2019 / Sead Fadilpasic

Businesses are ill-prepared for cyberattacks, and unsurprisingly, this means a higher percentage of companies have experienced attacks compared to last year. This is according to a new report by insurers Hiscox which says that 55 per cent of UK companies faced an attack this year, up from 40 per cent last year. However, most companies were ranked as ‘novice’ when it comes to cybersecurity and, as you could expect, they believed they were not exposed to any risk. "They may feel like they won't be targeted, as we tend to only read about large breaches in the press. If they incorrectly feel that they won't be targeted, they may be less likely to spend on cyber security,” commented Gareth Wharton, head of Cyber at Hiscox. A total of 5,400 small, medium and large businesses were polled, in the UK, Germany, the US, Belgium, France, the Netherlands and Spain. The amount of money businesses lose due to these incidents also spiked, from $229,000 to $369,000, repre...