In this video, Chris Potter, information security partner at PricewaterhouseCoopers (PwC) discusses the findings of the latest Information Security Data Breach Survey.
Potter, who presented the survey report at Infosec Europe 2012, highlights the most significant findings of the survey and outlines how UK businesses should respond to benefit from the insights gained from the study.
UK firms are suffering a record number of security breaches, costing billions of pounds a year, the survey of more than 400 businesses found.
"We have doing the survey since the early 1990s, which gives us really good trend data to be able to identify patterns," Potter.
In the past year, one in seven large organisations detected hackers within their systems, which is the highest level recorded, said the survey by PricewaterhouseCoopers (PwC) in conjunction with Infosecurity Europe and supported by the Department for Business, Innovation and Skills.
Some 70% of large organisations detected significant attempts to break into their networks in the past year, which is another record high.
Each large organisation suffered an average of 54 significant attacks, double the number in 2010, and 15% had their networks successfully penetrated by hackers.
The average cost of the worst security breach for large organisations was between £110,000 and £250,000, while for small businesses the cost ranged from £15,000 to £30,000.
Potter said considering that most businesses share data with their business partners across the supply chain, these numbers are startling and make uncomfortable reading for business leaders.