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Average cost of cyber security breaches for United Kingdom (UK) businesses 2019

Cyberattacks are potentially ruinous events for business owners. The average cost of a cyber security breach in the United Kingdom is 1,410 British pounds across all businesses, however, this figure becomes greater as the size of a business increases. The cost of a cyber attack is not only financial, with the average time large businesses spend on managing the impact amounting to 3.4 days.

Methods of attack

Would-be cyber attackers have a large range of tools at their disposal, with which to get around a business’s digital defenses. Fraudulent emails or being directed to fraudulent websites was by far the most common method used during 2018, with 75 percent of security breaches coming in that form.

Preventing future attacks

Investing in new security technology is a key focus for European businesses, with 50 percent saying this was their highest prevention spending priority. Most forms, of all sizes are committed to increasing their spending on cyber security. 60 percent of businesses with between 1 and 49 employees plan to increase spending in this area, compared with 75 percent of enterprises with 1,000 employees or more.

Average cost of all cyber security breaches for businesses in the United Kingdom (UK) 2019

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Sources

Release date

July 2019

Region

United Kingdom

Survey time period

October 10, 2018 to December 20, 2018

Special properties

Respondents are UK businesses that identified a breach or attack in the last 12 months

Method of interview

Telephone interview

Supplementary notes

*Source notes that micro and small firms have been merged to make this analysis more statistically robust.

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Statistics on "Business cyber security in the United Kingdom (UK)"

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