UK financial sector under constant cyberattack
The financial sector in the UK is under constant attack and that it is grappling to keep pace with ever-evolving cyber threats, according to a new report from security awareness training company KnowBe4.
The frequency of ransomware attacks on the financial sector in the UK doubled in 2023, showcasing an alarming escalation. Phishing and Business Email Compromise (BEC) remain the top threats to organizations including financial institutions.
Deepfakes are now the second most common security incident
Concern around deepfakes has been growing for some time and new research released by ISMS.online shows deepfakes now rank as the second most common information security incident for UK businesses and have been experienced by over a third of organizations.
The report, based on a survey of over 500 information security professionals across the UK, shows that nearly 32 percent of UK businesses have experienced a deepfake security incident in the last 12 months.
Cyber anxiety on the rise in the UK
A new study reveals that 56 percent of UK adults are more worried over potential cyberattacks since Russia's invasion of Ukraine.
The study from Illumio surveyed 2,000 people to understand their attitudes towards cybersecurity and finds only 47 percent are confident in central government's capabilities to ward off digital threats effectively and just 35 percent have confidence in local government.
It's time to get proactive on the UK's critical national infrastructure (CNI) security -- but where to start?
The critical national infrastructure that underpins the UK has undergone a tremendous amount of digital transformation in recent years. Areas like water treatment, energy and food production are still heavily reliant on operational technology (OT) systems that were often designed and implemented long before the digital revolution.
Digitizing these systems and connecting them to standard IT networks has allowed operators to boost efficiency and bring in practices like remote working and data collection that weren’t possible in an analogue environment.
UK rolls out new consumer safeguards for smart devices
From today all new internet connected smart devices sold in the UK will be required by law to meet minimum-security standards.
The UK becomes the first country in the world to legally require manufacturers to protect consumers from hackers and cyber criminals accessing devices with internet or network connectivity.
Cyberwarfare incidents reported by almost half of UK firms
New research shows that 49 percent of UK businesses have reported cyberwarfare incidents to the authorities.
The report from Armis also shows 52 percent of UK IT leaders believe the government can't defend its citizens and enterprises against an act of cyberwarfare.
Half of UK smaller businesses have lost vital data
Almost half (48 percent) of small and medium-sized businesses in the UK have lost, or lost access to, company or customer data in the last five years.
Research, carried out by Censuswide for business ISP Beaming, shows businesses with between 10 and 250 staff have borne most of the data loss, which has cost UK companies more than £5.3 billion since 2019.
Open source skills could help drive UK economic growth
Open Source contributed 27 percent of the UK tech sector's Gross Value Added (GVA) in 2022, according to a new report from OpenUK, the non-profit organization representing the UK’s open technology sector.
The report finds that there are 3.2 million GitHub accounts in the UK and 8,200 UK contributors to open source projects in the past year. There have also been1,700 new contributors to open source projects in the last 12 months, representing 20.7 percent growth.
Companies step up investment in ransomware protection
In the wake of the MOVEit vulnerability, which affected an estimated 40 million people around the world, businesses are stepping up their investment in ransomware protection.
A new study carried out by Censuswide for Veeam Software surveyed 100 directors of UK companies with over 500 employees who had suffered a ransomware attack in the past 18 months and finds 24 percent report they are significantly more anxious about ransomware attacks as a direct result of the MOVEit breach.
End of the line: How UK businesses can prepare for the telecoms Big Switch Off [Q&A]
With the UK's national 'Stop Sell' having commenced in September this year and the Public Switched Telephone Network (PSTN) switch off due by December 2025, business owners need to have all the facts and critical information that they need to act fast and confidently to make the right decisions about their digital alternatives.
With the switch off deadline looming how can businesses in the UK ensure that they are prepared for these significant, but exciting changes to communications?
UK faces record cybersecurity skills gap
The UK cybersecurity workforce gap has reached a record high, with 73,439 professionals needed to adequately safeguard digital assets, representing a 29.3 percent increase over 2022.
Research by security professionals organization ISC2 shows the UK cybersecurity workforce has reached 367,300 people, an 8.3 percent increase from 2022, representing more than 28,000 new jobs.
Nine out of 10 British businesses want to invest in new technologies
A new study shows nine in 10 British businesses plan to invest in new technology including adaptive AI, sustainable tech, neurotech, applied observability and digital immune systems, in the next 12 months.
The report from software and services company Advanced shows that 70 percent of businesses are either already using or researching ways to bring adaptive AI into their working practices, even though almost 50 percent of business owners are concerned about the risks of doing so.
Cybersecurity best practice? No thanks, we're British
New research to coincide with Cybersecurity Awareness Month finds that 34 percent of Brits admit that they have given up following cybersecurity best practice because it feels like an impossible task.
The study from Thales surveyed over 2,000 UK citizens and finds an alarming level of consumer apathy when it comes to keeping themselves safe online.
UK regulator to investigate hyperscalers' dominance of the cloud market
The UK's Competition and Markets Authority (CMA) is launching a market investigation into the supply of public cloud infrastructure services in the UK. Between them, Amazon and Microsoft enjoy a combined market share of 60-70 percent of Britain's cloud computing industry.
This follows a referral by telecoms regulator Ofcom which has expressed concerns around egress fees, discounts -- which may incentivize customers to use only one cloud provider, and technical barriers to switching.
UK businesses struggle with security budgets as cyber incidents increase
UK businesses have experienced on average 30 cyber incidents over the last twelve months, marking a 25 percent increase compared to last year.
But a new report from iomart and Oxford Economics finds that 27 percent of organizations think their cyber security budget is inadequate to fully protect them from growing threats. This is despite spending more than £40,000 ($48,000) a year on cyber protection such as vulnerability assessments, penetration testing, and red team engagements.
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