Firms report surge in cyber attacks in 2018

The number of cyber attacks against firms surged last year, with more than 60 per cent of companies reporting at least one attack in 2018, according to a major new survey.

Around 61 per cent of businesses reported one or more cyber attacks, up from 45 per cent the previous year, according to Hiscox’s cyber readiness report 2019 – which covered 5,400 companies in the UK, five continental European countries and the US.

The recent spike in cyber crime includes a number of high-profile incidents – such as data breaches at British Airways and Currys owner Dixons Carphone.

About three quarters of businesses were considered unprepared for a cyber attack, but around half of firms with fewer than 50 employees reported attacks, up from 33 per cent a year previously.

Hiscox cyber boss Gareth Wharton said the only positive from the study was “more firms taking a structured approach to the problem”.