Cybercrimes in UK have ‘doubled’ in past five years

Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber attacks. Reportedly, a quarter of UK businesses fell victim to cyber criminals last year. Most of these businesses were large scale enterprises making roughly 1.5 million businesses, up from 755,000 back in 2015.

Large businesses having at least 250 employees were most at risk for the last five years, with 87 percent of the respondents admitting to have been successfully breached in 2019. Even though large scale enterprises were considered at the target, small scale businesses experienced the steepest rise cyberattacks. 

It is claimed that  almost two thirds (62 per cent) of SMBs got hit last year, up from 28 per cent in 2105. The cost of all these attacks was around £87 billion ($108 billion).

Cybercriminals have embraced automation and launching increasingly sophisticated attacks. Cyber Crimes have increased 5 times in 4 years and they continue to soar. Cyberattacks with unprecedented scale and frequency are shaking the businesses of all sizes. So companies need to think hard about minimising the chances of being breached and their potential impacts.