Revealed – the proportion of companies hit by a cyber incident since 2019

Data exfiltration went up from 37% to 46%, ransomware from 30% to 40%, hacktivism from 32% to 39%, denial of service from 28% to 39%, fraud from 29% to 38% and cryptojacking from 27% to 33%.

US companies had been barely extra more likely to expertise a critical cyber assault at 77% in comparison with the UK at 73%. However, UK companies find yourself dropping extra in price. These incidents have price senior IT respondents a mean direct lack of £1.3 million, which isn’t inclusive of the long-term results that cyber assaults can deliver.

The true price of a safety breach lies within the oblique losses, which have develop into extra pricey than the cyber assault itself. Reputation injury and paid ransom averaged £1.5 million in 2022.

Nearly half of those companies additionally went into operational downtime, elevated insurance coverage premiums, skilled reputational injury, and paid authorized prices following the cyber assault.

“Our newest report exhibits the sheer scale of significant cyber-attacks on companies within the UK and the US. This is a rising drawback and one with critical ramifications for affected organizations,” mentioned Jamie Smith, board director at S-RM.

“Often companies will give attention to the direct monetary impression of a cyber incident, however the oblique impression may be even larger and much tougher for them to precisely quantify,” Smith mentioned. “This is a part of the explanation why an efficient incident response plan and related coaching is so vital. The proper plan can reduce the secondary impression of assaults, assist to restrict reputational injury, help restoration, and reduce pricey downtime.”



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