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Malicious insiders and DDoS attacks cost UK business the most

In 2017, the most costly or damaging cyber attacks for UK businesses have been malicious insiders and denial of service, research has revealed

Attacks involving malicious insiders cost UK businesses an average of £144,501, according to a study by the Ponemon Institute commissioned by professional services firm Accenture.

Distributed denial of service (DDoS) attacks have been the second most costly type of attack, with an average price tag of £96,668 per incident.

Business disruption and information loss represents the costliest consequence of cyber crime, accounting for 75% of losses in the UK.

The survey of 332 company representatives also revealed that organisations are working harder and spend more time trying to contain malicious code attacks (56.6 days) and malicious insiders (47.6 days), with ransomware being the fastest-growing type of attack, up 25% in the past year.

“UK businesses needs to get the basics right, such as timely patching of their systems, and ensure they are protecting their most high-value assets from the inside out,” he added.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.