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In spite of regular headlines and more awareness of data breaches amongst high-profile brands, small UK businesses seem to still be in the dark when it comes to cyberattack risks.
A new study from fraud detection vendor CSID revealed that 52% of small British firms fail to take preventative measures when it comes to protecting themselves against potential data breaches. Furthermore, the research found that most (85.3%) have no plans to add to their security budget, while fewer than 13% use third-party vendors for protection.
The research, along with a recent survey from professional services network PWC, showed the huge challenges that small businesses are facing. PWC’s poll revealed that 74% of small firms suffered a breach within the last 12 months, which was a 14% increase from last year. Furthermore, a breach can be very costly to smaller enterprises, especially when they are just starting out, with an average cost being anywhere from £75,000 to £311,000.
CSID’s managing director for Europe, Andy Thomas, said:
“It seems that time and again businesses misjudge the element of staff related security breaches which appear to be increasing every year. Yes, there will always be threats from malware, phishing and DOS, but never underestimate the human factor.”
If there is anything to Thomas’ comments, it may be that small businesses need to place more emphasis on IT security recruitment in order to have trained personnel on site, so that company staff are more educated in the risks of cyber security.
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