Whilst many companies, and in particular SMEs, have historically not recognised the requirement for investment in maintaining robust IT security measures, the following statistics make worrying reading:
- Earlier this year, the PwC Information Security Breaches Survey 2014 highlighted the fact that the cost of a breach to an organisation has almost doubled since the previous year. The average cost to a large organisation for the worst level of security breach is between £600k and £1.15m (up from £450 to £850k a year ago). The average cost to a small business for its worst security breach is between £65k and £115k (up from £35 to £65k a year ago)
- During the last year significant global brands have been impacted by Information security attacks. These include Ebay, Target, Sony, Evernote and WordPress; and
- According to the RSA monthly fraud reports the UK is the 4th most attacked country by volume after the United States, China and the Netherlands.
In response to this growing threat, the UK Government, in consultation with industry, launched the Cyber Essentials IT security standard in June 2014. […]