British businesses lost $55 billion over five years to cyberattacks, with many lacking basic security measures.

British businesses lost around $55 billion over the past five years due to cyberattacks, with 52% of private sector firms experiencing at least one attack. The average cost was 1.9% of revenue, and attacks were mainly due to compromised emails (20%) and data theft (18%). Despite the risks, only 61% use anti-virus software and 55% use network firewalls, often due to high costs and limited IT resources.

November 25, 2024
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