Recent findings reveal a significant rise in cyber-attacks on businesses, which experts believe are only the ‘tip of the iceberg.’
- Government data indicates 50% of companies faced a breach or attack over the past year, signaling an alarming trend.
- Roy Shelton, CEO of the Connectus Group, highlights the sophistication and frequency of these cyber threats.
- Phishing and malware remain the prevalent forms of attacks affecting businesses and charities alike.
- Many incidents remain unreported, emphasizing the need for increased vigilance and effective countermeasures.
Recent analytics have indicated a troubling increase in cyber-attacks targeting businesses, with warnings from experts suggesting this may just be scratching the surface of a larger, unreported problem. According to government figures, approximately half of the businesses surveyed experienced a cyber breach or attack within the past year. Roy Shelton, CEO of the Connectus Group, underscores the threat imposed by these rising incidents, asserting that the overt figures represent merely a fraction of the actual scenario due to many companies abstaining from reporting breaches over concerns of reputational harm.
The 2024 Cyber Security Breaches Survey further categorizes these attacks, noting that 74% of large businesses experienced an attack, along with 70% of medium-sized enterprises, and 66% of significant charities were also targeted. Predominantly, the tactics employed include phishing, affecting 84% of businesses and 83% of charities, followed by impersonation emails or online fraud, and viruses or malware.
It is estimated that UK businesses endured around 7.78 million cyber crimes over the past year, alongside 116,000 non-phishing cyber offenses. Meanwhile, charitable organizations faced approximately 924,000 cyber threats in the same period. Mr. Shelton emphasizes that the statistics presented reference only officially reported breaches, which likely understate the true extent of the challenge at hand.
The findings indicate that 51% of businesses have adopted multiple strategies to mitigate these risks, with 40% of charities doing so. Effective countermeasures include the deployment of security monitoring tools, risk assessments conducted by 33% of businesses, and engaging staff in mock phishing exercises, albeit only 18% employing this particular method.
In the wake of these threats, the Connectus Group has devised an advanced Managed Extended Detection and Response (MXDR) service. This tool, integrated with the Heimdal XDR Unified Security Platform, epitomizes a comprehensive defense mechanism, aiming to fortify enterprises through a layered approach involving expert-driven threat hunting and responsive action strategies.
Ultimately, businesses and charities must enhance their cybersecurity measures to effectively counteract the growing menace of cyber threats.
