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Cybersecurity is not a priority for most businesses in the UK, results from recent research has indicated.
Despite us being in a time where the importance of cybersecurity has never been more prevalent, businesses are still not showing the respect to cybersecurity that it deserves. In fact, recent research suggested that just 10pc of UK businesses see cybersecurity as their biggest challenge to economic success, despite 2018 being the big year of the GDPR changes.
With the Information Commissioner’s Office (ICO) now having the power to fine data breach offenders up to £17m, how cybersecurity is not a priority is incredibly baffling.
It appears that, despite far greater awareness, cybersecurity is not a priority for most businesses in the UK when it comes to their economic future. The huge increase of cybersecurity incidents, together with the new GDPR that came into force in May, means that businesses surely have never been more aware of the dangers they face in terms of cybersecurity.
Fines and legal actions could theoretically cripple a business. How is the lack of attention and respect for cybersecurity still a problem despite growing data breaches and new legislation?
The fact that the research indicates that cybersecurity is not a priority may well change in time when we see the new GDPR powers the ICO has in action.
The recent Ticketmaster data breach we’re representing victims for may well lead to the first big fine in light of the changes in the law. The breach was ongoing after the deadline elapsed, and because Ticketmaster was using vulnerable code that was hacked, and was reportedly warned about a breach two months before they say they realised it had happened and failed to act, they could feel the full wrath of the GDPR because the breach was preventable, and could have been stopped far earlier.
How bizarre is that? Cybersecurity is not a priority, yet cyber-attacks are on the rise in the UK, experts have stated.
Surely, in an age where the risks are greater, the defence against those risks must be seen by more businesses as absolutely key to financial and economic prosperity. A link between better cybersecurity and increased profitability has already been established, so this surely has to change.
Could it all be a symptom of the hard times we’re in right now? A seemingly unstable government in a changing political landscape in the midst of Brexit may well have diverted business leaders’ attention.
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