UK firms failing to prioritise cyber security

UK firms failing to prioritise cyber security

While experts are continuously warning businesses about a lack of cyber security, they still insist that it will not be treated as a priority within the next year.

This was revealed in a new survey by specialist financial services group Close Brothers. The most revealing insight from the research is that 63% of firms opted against investing in improving security.

The main issue with the results from the survey is that businesses are shown not to be adhering to the soon to be implemented GDPR (General Data Protection Regulation). The GDPR, which will be in effect in 2018, will determine how firms employ and share consumer information, and how it will set up specific standards of cyber security.

Close Brothers Technology Services Managing Director Ian McVicar said:

“Businesses of all sizes should be aware of their responsibility when it comes to protecting customer data. Keeping customers’ details safe are at the core of the EU’s new data protection legislation, General Data Protection Regulation (GDPR), which was adopted in April 2016 and takes effect within two years.”

Most firms in the UK (57%) are concerned about cyber crime, with 36% admitting that they are not concerned at all (36%). Under half (41%) feel protected, and 17% are unaware of what level of protection they have.

Firms still need to come to terms with the dangers of cyber crime if they wish to avoid finding their name on the growing list of those who have suffered a breach. If they fail to prioritise their IT security recruitment strategy, they serve only to put themselves at risk.

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