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Almost two thirds of UK firms suffered data breaches in the last two years

In a data security research report commissioned by GFI Software and Infinigate UK, 58 per cent of surveyed companies reported data breach incidents and data loss in the last two years. Despite this, only  nine per cent of IT budgets is dedicated to IT security.

Chris Payne, Infinigate UK

Download the market research report, Data Security: Current Priorities and Future Focus, to find out more information

Considering the increasing threat of data targeted attacks, it is unsurprising that 81 per cent of respondents revealed their top concerns involved preventing data loss and breaches as well as cloud security. As Infinigate UK’s Chris Payne discusses, the potential repercussions of a data breach could result in the loss of millions of pounds and severe reputational damage.

Considering the grave impact data loss can have on a business, the research report discovered that more than half of respondents had suffered a breach within the last two years. An astonishingly high figure, it is clear that appropriate security is an absolute necessity to prevent such a high risk concern.

Furthermore, around four in 10  reported cloud breaches, insider thefts and mobile security hacks. With only 15 per cent of questioned organisations claiming they have not suffered an attack in recent years, how confident are you that your business data is safe?

Perhaps the most concerning insight is that more than half of the respondents felt that a lack of senior management buy-in was the main challenge to improving their organisations’ IT security. This was closely followed by limited internal skills or resources, budget limitations and even the threat of insiders exposing their companies to risk.

These are familiar issues to Chris Payne and Ronny Wolf of GFI Software, who urge businesses to remain vigilant to the potential threat, regardless of how safe they consider themselves to be.

As Payne explains: “We don’t leave our houses in the morning and go to work and leave our doors unlocked just because we haven’t been burgled before.”

Wolf recommends testing solutions frequently to ensure constant security coverage. However, for him, it is the combination of both technology and end-user awareness that is the most comprehensive factor in ensuring organisations stay on top of an ever-evolving threat.

Payne and Wolf discussed just how easy it is for cyber criminals to deploy these kinds of detrimental attacks with software available from as little as $1000 (£770) – a small price for the reward of theft, fear and complete control.