Significant number of small firms experienced a cyber-attack in last year, data reveals

27 Jun 2019

Data published by insurer Hiscox has revealed that 61% of UK small firms have experienced a debilitating cyber-attack in the last year.

According to Hiscox, Belgian businesses are the most likely to be targeted, and US businesses the least likely.

The data found that the cost of dealing with a cyber-attack has risen considerably for many small businesses. Hiscox suggested that attackers are increasingly shifting their attention from large firms to small and medium-sized enterprises (SMEs).

Two-thirds of small businesses stated that they are planning on increasing their spending on cyber security by 5% or more in the upcoming year.

Commenting on the issue, Gareth Wharton, Cyber CEO, said: 'The old adage 'prevention is better than cure' springs to mind, and being aware of these threats is half the battle. From our experience... business email accounts being compromised is currently the main cause of cyber claims, followed by ransomware.'

Register for our newsletter

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Register

Weston-super-Mare

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

01934 415022

Cheddar

Bath Street
Cheddar
Somerset
BS27 3AA

01934 743274


Home | Contact us | Accessibility | Disclaimer & Privacy Policy | Help | Site map |

© 2020 Four Fifty Partnership. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be found at auditregister.org.uk under the reference C001092613.

"four fifty partnership" is a trading name of Four Fifty Partnership Limited. Registered in England. Company Number 5032008. Registered Office 34 Boulevard, Weston super Mare, Somerset BS23 1NF.

Directors: Richard Acreman BSc CTA, Joy Boswell FCCA FCA, Peter Ison BA FCA and Nick Gravell FCCA FCA.

Professional Indemnity Insurers: Nexus Underwriting Limited 52-56 Leadenhall Street, London EC3A 2EB (Policy Number: BC6210PIA194). The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.