WIREDGOV

The average cost of the most severe online security breaches for big business now starts at £1.46m – up from £600,000 in 2014, according to government research.   For SMEs, the most severe breaches cost can now reach as high as £310,800, up from £115,000 in 2014.

However, more firms are taking action to tackle the cyber threat, with a third of organisations now using the government’s “Ten Steps to Cyber Security” guidance, up from 25% in 2014.  And 49% of all organisations have achieved a “Cyber Essentials” badge to protect themselves from common internet threats, or plan to get one in the next year.

BIS:  Cost of cyber security breaches doubles - The average cost of the most severe online security breaches for big business now starts at £1.46m

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