Posted on: 11 August 2021
The impact of cyber breaches on UK businesses
Cybercrime has become prevalent in the UK, mainly due to how technology has become an integral part of our lives.
In this infographic, we will take a look at some of the key points from the Department for Digital, Culture, Media & Sport’s survey into how cyber-crime has affected businesses and charities in the UK.
Cyber Breach Survey 2021 Infographic
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<p><a href="https://www.premierline.co.uk/knowledge-centre/cyber-security-breaches-survey-2021.html"><img src="https://www.premierline.co.uk/content/dam/premierline/knowledge-centre/infographic/2021-cyber-security-infographic.png" alt="Cyber Security Breaches Survey 2021 infographic by Premierline"></a><br /><br/><a href="cyber-security-breaches-survey-2021.html">Cyber Security Breaches Survey 2021</a> by <a href="https://www.premierline.co.uk">Premierline</a></p>
Cyber Breaches Survey 2021 Summary
In this year’s survey, the Department of Digital, Culture, Media & Sport compiled the results from 2,284 participants who were a mixture of businesses, charities or educational establishments.
Exposure to cyber attacks
In 2019/20, 39% of participants in the survey said they had been subject to a cyber-attack. This is down from the 46% who experienced a cyber-attack in 2019.
However, in 2020/21, 13% of businesses claimed that experienced a cyber-attack at least once a day. This is up from 9% in the previous year.
Facts about cyber-attacks in 2020/21
- 23% of businesses and 24% of charities had to implement new measures to prevent future cyber-attacks.
- 19% of businesses and 25% of charities had to take up staff time to deal with cyber breaches and attacks. 12% of businesses and 9% of charities had to stop staff carrying out tasks because of cyber-breaches.
- 13% of businesses and 10% of charities experienced a cyber breach at least once per day.
What was the most common types of cyber breach?
- Phishing attacks – 67% of businesses and 58% of charities experienced a phishing attack.
- Impersonation – 11% of businesses and 13% of charities received phone calls or emails from a person pretending to be from the company.
- Virus, Spam, Malware or Ransomware - 7% of businesses and 14% of charities were attacked with viruses, spam, malware or ransomware.
Impact of cyber breaches
21% of businesses and 18% of charities experienced negative outcomes such as:
- Loss of access to files or network.
- Website or online services were taken down or slowed down.
- Software or systems corrupted.
- Money was stolen from businesses or charities.
Average cost of breaches for businesses
In 2020/21, cyber breaches cost businesses and charities the following amounts:
- All businesses - £2,670
- Small businesses - £2,600
- Medium and large businesses - £3,930
- Charities – £2,110
In 2019/20, cyber breaches cost businesses and charities the following amounts:
- All businesses - £3,320
- Small businesses - £3,110
- Medium and large businesses - £5,220
- Charities – £1,560
This shows that the average cost of cyber-attacks has dropped for all businesses, but charities have been adversely affected.
Protecting your business from a cyber attack
Take a look at our key points from last year's survey to find out how to protect your business from cyber-attacks, and how cyber insurance plays a part in keeping your business safe.
Cyber insurance with Premierline
It is everyone’s responsibility to ensure strong cyber-security, but with criminals having access to such intricate methods of committing cyber-crimes, you may need some assurances that you are protected in the event of a cyber-attack.
At Premierline, we work with Hiscox to provide industry-leading cyber insurance, that gives comprehensive protection against many cyber and data risks, specifically designed for SME’s.
Compare business insurance
The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Insight Hub.