William Beer, director, OneSecurity, PwC comments on the cyber security threat:
Government and corporate computer systems are being targeted daily by a growing number of well-resourced and highly sophisticated cyber-criminals and even state-led operations. We therefore welcome the extra awareness and the resources that are being made available to help protect the public sector and UK plc from such cyber attacks. The UK’s critical national infrastructure and corporate secrets are at risk from cyber criminals, and our own research shows that many organisations are simply unaware of how many information security attacks they have suffered. This is despite the fact that this same research shows that direct financial loss and theft of intellectual property are the key areas that impact businesses.
Businesses are now taking cyber security much more seriously. However, they need to question their readiness and ability to recognise and manage the growing threat to their most sensitive data and ensure that it is an issue on their board’s agenda.