Almost a third (31%) of directors or senior managers of UK manufacturing businesses do not consider cyber security to be a very high priority, despite attacks increasing in frequency.
Breaches are becoming more prevalent and severe, with 2.9 million UK firms reportedly suffering cyber security attacks in 2016, costing firms more than £29bn.
Operations of an organisation (30%) are most likely to be affected by any potential cyber-attack/breach, according to Cisco; followed by finances (30%), brand reputation (26%), customer retention (26%), and intellectual property (24%).
Worringly, new figures have revealed that the majority (90%) of businesses are still yet to create an incident management plan in the event of a cyber-attack/breach.
An analysis of Gov.uk data by SayoyStewart has shown that directors/senior management in finance and insurance are the most concerned about cyber security – with almost two-thirds (60%) classifying it as a very high priority.
Directors/senior management in hospitality and food are the least worried about cyber security – with only (15%) classifying it as a very high priority.
Managing director of SayoyStewart, Darren Best commented: “With threats, likely to intensify as cyber criminals become more ruthless, businesses cannot rest on their laurels. Business leaders cannot afford to be just concerned or treat it as another risk management exercise.
“They need to effectively understand, carefully manage and thoroughly assess the security of their IT estate to continually get the basic defences right. On top of this, adequate governance and employee education on cyber security can go a long way in protecting a business’s key capabilities and functions”.
The Manufacturer Smart Factory Expo
Nov 15-16, 2017 – Exhibition Centre Liverpool
The UK’s biggest showcase for the Fourth Industrial Revolution (4IR) – a revolution in manufacturing agility, innovation and thinking.
Highlighting the best solution providers and technology offerings, this unique FREE event is for manufacturing business leaders keen to adopt the relevant tools and knowledge to drive business growth.
New for 2017:
- Buyer Lounges – matching buyers and sellers
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- Mentor Clinics – find the answers to your questions
- Innovation Alley – growing the expo ecosystem with hardware start-ups