BAE Systems recently released new research highlighting the significant financial impact associated with being hit by a cyber-attack.

The study of 100 business leaders from private sector organizations with over 1,000 employees found that the average cost of a cyber-attack was £330,000, but even more alarming, 10% of businesses surveyed paid over £1 million.

79% of business leaders confidently claim they have all the appropriate security controls in place to defend against a cyber-attack, yet more than half (57%) claim they’ve fallen victim to a cyber-attack within the last year. Unsurprisingly, many of those who were confident about defenses admitted to not having tested their incident response plans for at least six months.

“Businesses need to ensure they have the right people, processes and tool and place, so when a major incident occurs they are equipped to understand, contain and remediate. If action isn’t taken immediately, the price of cyber ignorance- for the company and the wider economy- could be catastrophic,” said Julian Cracknell, Managing Director of UK Services at BAE Systems.

This unsettling research comes just days after the announcement that the National Cyber Security Centre will be headquartered in London, working to protect the UK from cyber-attacks across the world. The NCSC will employee over 700 staff members and more than half will be based out of the London HQ.

While the launch of this groundbreaking cyber security facility is reassuring, as it aims to keep citizens safe online, businesses and government agencies also need to take responsibility and be proactive. By enabling real-time breach detection, you can be alerted of any suspicious behavior before a threat becomes a compromise. Zero-day threats, Trojans, and APTs deployed by Phishing and Insiders are nearly impossible to defend against, so it is important you can detect these breaches before any significant damage is done.

 

Read this article on CBR

 

 

NNT Products
USA Offices
New Net Technologies Ltd
Naples
Suite #10115, 9128 Strada Place
Naples, Florida, 34108
Atlanta
201 17th Street, Suite 300
Atlanta, Georgia, 30363.

Tel: 1-888-898-0674
email[email protected]
UK Office
New Net Technologies Ltd
Spectrum House, Dunstable Road
Redbourn,
St Albans

Herts
AL3 7PR

Tel: 08456 585 005
Fax: 08456 122 031
email[email protected]
NNT Newsletter
Sign up to receive our monthly newsletter covering breaking security news, how-to-tips, trends and commentary directly to your inbox.


Google+ Linkedin Twitter - Change Tracker Facebook rss feed YouTube
CIS benchmarking SEWP Cybersecurity 500 Sans Institute
Copyright 2017, New Net Technologies Ltd. All rights reserved. 
NNT and Change Tracker are registered trademarks of New Net Technologies Ltd.
All other product, company names and trademarks are the property of their respective owners.