As our reliance on technology grows, so does the threat of cyber crime. To gain a comprehensive understanding of the scope of this issue, the United Kingdom’s Government relies on precise definitions and guiding principles, as outlined in the Computer Misuse Act 1990 and the Home Office Counting Rules. These foundational frameworks serve as the compass for categorizing and interpreting cyber-related breaches and attacks.
PREVALENCE AMONG ORGANIZATION
Government findings indicate that cyber crime exhibits varying degrees of prevalence among different types and sizes of organizations. While larger entities report higher instances of cyber crime, there is a growing concern regarding potential underreporting among smaller organizations. For instance, approximately 11% of businesses and 8% of charities have experienced cyber crime in the past year. These figures significantly increase for medium businesses (26%), large businesses (37%), and high-income charities (25%).
The government’s data also reveals that 3% of businesses and 1% of charities have fallen victim to fraud directly resulting from cyber crime. This equates to 9% of businesses and 6% of charities that have reported any cyber security breaches or attacks.
ESTIMATING THE SCALE
Estimations suggest that across all UK businesses, there were approximately 2.39 million instances of cyber crime and around 49,000 instances of fraud as a result of cyber crime in the last 12 months. While the sample sizes do not allow for an accurate estimation of the scale of fraud among charities, it’s essential to acknowledge the margin of error in these estimates.
The average annual cost of cyber crime for businesses is estimated to be approximately £15,300 per victim. Unfortunately, the sample sizes do not permit a similar calculation for charities.
A cyber crime poses a substantial threat to organizations in the United Kingdom. Insights from the UK Government provide valuable data and perspectives on the prevalence and impact of cyber crime. As we navigate the digital landscape, it’s imperative for organizations to remain vigilant, proactive, and well-informed in their efforts to combat this evolving threat. Stay tuned for more updates on cybersecurity trends and strategies to protect your organization in an increasingly connected world, backed by the latest information from official sources.
Source: Government UK
