UK ranks first in Europe for data breaches

Last year saw more than one billion records compromised thanks to numerous data breaches, claims a recent report, which also found that the UK is at the top of the list when it comes to breaches.

Gemalto’s SafeNet Breach Level Index suggested that  there has been a 78 per cent increase in stolen data records, with more than a million nabbed in 2014. Dara breaches have also risen, with a 49 per cent year-on-year increase. There have been 1,541 incidents reported.

The cyber attack on worldwide financial institutions by Carabanak seems to rank as the biggest bank raid of all time by just one single hacking group.

Quocirca Ltd’s director and analyst, Bob Tarzey, told SCMagazineUK.com that although Carabanak’s existence shouldn’t necessarily be counted out, the numbers quoted for any financial losses appear all to be Kaspersky estimates. He said:

“These range from £155 million to £650 million. If true, it would seem that that banks themselves have kept this quiet, presumably because it is not that much once spread across the affected organisations; although of course, the sums would be a lot to any gang.”

The report highlights that UK businesses are not doing enough to combat cyber crime. To decrease the number of breaches, cyber security needs to be taken up a rung or two on the priority ladder. If business owners take note of the report, they will offer more cyber security jobs to trained personnel who can help make their operations more secure. It could not only save them a lot of trouble in the long-term, but also help the UK be less susceptible to cyber crime.