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Is Cyber Security a Priority?

A recent study from property agency Savoy Stewart has revealed that cyber security is still not a priority for most UK sectors, despite massive data breaches in 2016.

60% of directors and senior managers in the finance and insurance sector said that would consider cyber security as a high priority matter, significantly higher than the other sectors, with just 15% of hospitality and food executives considering it as high priority.

Besides finance and insurance, the sectors above the average also include education, health and social care (49%); information, communication and utilities (42%); professional, scientific and technical (39%); and retail and wholesale (39%).

On the lower end of the scale are manufacturing (31%); admin and real estate (28%); construction (23%); transport and storage (23%); and entertainment and services (21%).

This lack of concern is especially intriguing given the fact that cyber security has been featured increasingly by mainstream media because of several high-profile data breaches in the UK over the past year, most prominently, the attack on the NHS.

According to research conducted by Beaming, a business internet service provider, 2.9 million UK firms came under attack from security breaches, costing an estimated £29.1bn.

In a separate study conducted by CISCO, the operations of an organisation (36%); are most likely to be targeted by attackers, followed by finances (30%), brand reputation (26%), customer retention (26%) and intellectual property (24%).

Despite these figures and the potential for another mass cyber attack, the Savoy Stewart analysis revealed that 90% of UK firms don't have an incident management plan.

Managing Director of Savoy Stewart, Darren Best, said that cyber threats are only likely to increase and businesses cannot afford to be complacent.

"Business leaders cannot afford to be just concerned or treat it as another risk management exercise, but instead need to understand, carefully manage and thoroughly asses the security of their IT estate to continually get their basic defences right."

If your business is in need of a cyber security expert, contact one of our Technology Consultants who will help find the right person for your business.

Source: Computer Weekly


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