Recent research from Probrand, a technology services provider, highlights the industries most affected by cyber crime over the past year.
Drawing on data from GOV.UK and Statista, the Birmingham-based company’s findings reveal the increasing threat of cyber attacks and offer guidance for businesses to enhance their defences.
A significant concern is the prevalence of cyber crime across the UK, with half of businesses reporting some form of attack in the winter of 2023/24, according to GOV.UK. Google Trends data also shows a 250% rise in searches for “cyber security attacks” over the same period, indicating growing awareness.
The finance sector emerges as the most impacted industry, with 184 reported web application attacks in two years. This is followed by the information sector (144 incidents) and professional services (127 incidents). Other affected sectors include public administration (106 incidents), manufacturing (77 incidents), and healthcare (64 incidents).
Despite these alarming figures, Probrand’s report reveals that 48% of UK employers do not provide cyber security awareness training for staff. Additionally, 69% of businesses rely on weak passwords for accessing sensitive documents, leaving them vulnerable to cyber threats.
Industry Insights and Emerging Threats
Probrand’s Marketing Director, Matt Royle, emphasised the critical need for improved cyber security measures. “It is not unexpected to see the increase in businesses being targeted and impacted by cyber risks. However, it is concerning to discover only half of UK businesses offer any form of cyber security awareness training for employees,” he said.
Royle pointed to the vulnerability of industries such as finance, information services, and professional sectors, which are targeted due to their valuable data, financial resources, and intellectual property. He also highlighted the evolving tactics of cyber criminals, including sophisticated phishing and ransomware attacks often powered by artificial intelligence.
Probrand’s analysis of GOV.UK data estimates approximately 924,000 cyber crimes occurred in the past 12 months. Charities were also identified as consistent targets, further underscoring the widespread nature of the issue.
“Cyber criminals are already moving to target the latest technology advances in Multi-Factor Authentication,” Royle noted. He stressed the importance of addressing human error through awareness and training while adopting robust technological solutions to counteract these threats.
Proactive Measures to Combat Cyber Crime
To address these challenges, Probrand’s recommendations include adopting passwordless authentication, replacing outdated firewalls, enabling multi-factor authentication (MFA), and implementing strong employee policies. Passwordless authentication, through methods such as biometrics or physical tokens, is identified as a secure alternative to traditional passwords.
Additionally, businesses are advised to update firewalls older than three years and configure them correctly to block modern threats. Enabling MFA is deemed essential for safeguarding accounts, particularly those housing sensitive information.
Probrand also advocates for robust cyber security policies and incident response plans. These measures ensure that employees know how to react in the event of an attack, thereby minimising potential damage.
Employee training plays a pivotal role in strengthening an organisation’s cyber defences. Probrand highlights the risks of neglecting this area, as untrained staff may fall victim to phishing attacks or fail to follow security protocols.
Training programmes, including simulated phishing exercises, can help employees recognise and avoid common cyber threats. Encouraging a reporting culture further empowers staff to act against suspicious activities, fostering a proactive approach to cyber security.
The B2B Marketer, the online destination for B2B marketing professionals seeking valuable insights, trends, and resources to drive their marketing strategies and achieve business success.
