Business cyber-attacks double in second quarter
The number of cyber-attacks on UK businesses more than doubled in the second quarter, as the average firm was targeted around 65,000 times.
According to Beaming, the number of attacks in the three months to June increased by 52%, highlighting the need for businesses to ensure they are adequately protected.
Of the attacks hitting corporate firewalls, 68% targeted connected devices such as building control systems and security cameras.
However, attacks on company databases have increased substantially – the average business noted 105 attempts to take control of database applications every day in the second quarter, compared to 14 daily attempts in the first quarter.
Sonia Blizzard, Managing Director of Beaming, revealed that UK businesses were targeted more than 700 times every day between the start of April and the end of June.
She described the likes of Wannacry and similar attacks as “just the tip of the iceberg” and said they have the potential to bring major organisations to their knees.
“The majority of cyber-attacks are automated computer scripts that search the web for weaknesses and attack company firewalls constantly looking for vulnerabilities,” she explained.
This showcases the need for companies to keep their defences up to date and highlights the needs to prioritise security in the digital age.
Staff training is equally as important as employees need to be aware of their roles and responsibilities when it comes to tackling the threat from cyber-crime.
Should a company fall victim to a major cyber-attack, the costs associated with overcoming it can be high, while the recovery can take a significant amount of time.
This can result in reputational damage and a loss of trust between the business and consumer, which in turn can sales of goods and services drop, heightening the risk of insolvency.
For those operating on tight margins, recovering from an attack may be very difficult or even impossible, as they are simple unable to cover the losses involved.
A business may want to consider having contingency plans in place in order to ensure that they have a range of available options should they be a victim to an attack that causes financial distress.
By Phil Smith