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Cybersecurity In 2024: Key Stats And Insights For UK Organisations

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As we enter a new year, the latest Cyber Security Breaches Survey 2024 offers valuable insights into the evolving landscape of cyber threats, resilience, and organisational preparedness. This study, aligned with the UK’s National Cyber Strategy, highlights critical trends and challenges that businesses, charities, and educational institutions face in safeguarding their digital assets.

Here’s a breakdown of the key findings:


1. Cybersecurity Breaches: A Persistent Threat


Cyberattacks remain a significant concern, with:

•           50% of businesses and 32% of charities reporting breaches or attacks in the past year.

•           Medium (70%) and large businesses (74%) being more frequently targeted.

The most common form of attack? Phishing, which affected 84% of businesses and 83% of charities. Impersonation attacks (35%) and malware (17%) followed as other prevalent threats.


2. The Cost of Cyber Incidents


For organisations hit by breaches, the financial impact varies widely:

•           Average cost per incident: £1,205 for businesses, £10,830 for medium and large businesses, and £460 for charities.These figures underscore the need for robust prevention measures to mitigate financial risks.


3. Cyber Hygiene: Improving Defenses


The report notes a positive shift in the adoption of basic cybersecurity measures, including:

•           83% of businesses now using up-to-date malware protection (up from 76% in 2023).

•           Increased use of network firewalls (75%) and restricted admin rights (73%).

While these improvements are encouraging, smaller organisations still lag behind larger counterparts in implementing comprehensive protections.


4. Risk Management and Supply Chain Awareness


Larger organisations continue to lead in identifying and managing cyber risks:

•           31% of businesses and 26% of charities conducted cyber risk assessments in the last year, with higher rates among medium (63%) and large businesses (72%).

•           Awareness of supply chain risks is growing, but only 11% of businesses and 9% of charities formally review supplier risks.

 

5. Cyber Insurance Uptake


The adoption of cyber insurance has grown modestly among businesses, rising from 37% in 2023 to 43% in 2024. Charities remain steady at 34%. However, medium businesses (62%) are more likely to be insured than large businesses (54%).


6. Board Engagement and Corporate Governance


Cybersecurity is a top priority for:

•           75% of businesses and 63% of charities, with higher engagement in larger organisations (93% of medium businesses, 98% of large businesses).Despite this, only 30% of organisations have board members explicitly responsible for cybersecurity, showing room for improvement in leadership accountability.


7. Incident Response Gaps


While many organisations report taking steps after a breach, only 22% of businesses and 19% of charities have formal incident response plans. Smaller organisations often rely on external IT providers, highlighting the need for more in-house expertise.


8. Cybercrime Trends


Cybercrime continues to rise, with 22% of businesses and 14% of charities falling victim in the past year. Among businesses, phishing dominates (90%), while more severe attacks like ransomware remain rare (<2%).


Bottom Line:


The findings from the Cyber Security Breaches Survey 2024 highlight the ongoing challenges organisations face in combating cyber threats. While there’s progress in adopting basic protections, gaps remain in risk management, board-level engagement, and incident response preparedness.

At 4D, we help businesses navigate the complexities of cybersecurity with tailored solutions that prioritise protection, compliance, and peace of mind. Whether it’s managing your IT infrastructure or enhancing your cyber resilience, we’re here to support your journey toward a secure digital future.

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