It is apparent that cyber-attacks are becoming a growing threat to the businesses in the UK.
In 2016, Tesco bank were in involved in a cyber-attack, resulting in the company having to refund millions of pounds to their customers, while Talktalk was fined nearly half a million pounds following the company’s customer data was stolen by hackers.
The main problem with cyber-atacks lies in the fact that the companies’ lack of understanding on how to handle such attacks, and furthermore, how to and who to report.
According to a study from the Institute of Directors and Barclays, although 94% of a sample of thousand UK businesses surveyed believe I.T security is a critical aspect, only 50% actually have a set strategy to deal with such attacks.
Moreover, 40% of the businesses surveyed had no knowledge of which law enforcement to inform if they were put in such a situation.
The IoD emphasised the importance of businesses having an appropriate strategy in place to deal with cyber-attacks. What’s more, the strategy should include, for instance, having adequate training for the staff and updating awareness schemes about cyber-attacks.
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