One-Fifth Of British Firms Became Victims Of Cyber Attack In 2016: BCC Report

A new study finds 20 percent of British companies were victims of cyber attack in 2016.

British Chambers of commerce (BCC) adds those firms which have at least 100 staff were more likely to be attacked. It urged the business houses to do more to protect themselves from online attackers.

BCC surveyed 1,200 British companies and most of the cyber attacks had occurred to larger firms.

The business group found only a quarter of the surveyed firms said have been taking security measures in protecting themselves.

BCC further continued, “Cyber attacks risk companies’ finances and reputation, with victims reporting not only monetary losses, but costs from disruption to their business and productivity.”

Tesco Bank reported a loss of 2.5 million pounds in 2016 due to an unprecedented breach at the British bank.

BCC director-general Adam Marshall said the companies need to be very protective from such attacks.

It is needless to say corporate giants including eBay and Yahoo too have been victims of major cyber attacks earlier.

The British law currently need the companies to have appropriate measures in place to keep personal data of people secured. In 2018 the regulation will be extended and responsibilities of business houses will be increased in protecting the personal data.

Marshall said, “Firms that don’t adopt the appropriate protections leave themselves open to tough penalties.”