A shocking study of the UKs top 500 businesses in 2010, revealed that nearly HALF lacked adequate cyber defence.

 Considering cyber attacks cost the UK more than 34 Billion a year, moving forward to 2017, it’s hard to believe that 45% of UK business leaders, STILL do not have adequate protection.

In the study, data threats came in as the SECOND biggest cause for concern for bosses, but with Malware attacks ALONE costing on average of £10,500 per attack, what are the top 3 predicted threats we can expect to see in 2017?

1. Cloud-based attacks will increase

Cisco’s 2017 Annual Cyber-security Report, released on Tuesday revealed 27% of third-party cloud applications introduced by employees into enterprises in 2016, posed a high-security risk. As cloud attacks continue to rise in 2017, we will see a larger portion of companies reevaluating their security budgets and amending them accordingly.

 

2. The evolution of ransomware

Ransomware hijacks your PC and prevents you from accessing files, windows or certain apps. In general, you will then be instructed to do something before you can use your PC.

The ability to take over a system and effectively hold it hostage until a set of demands, typically financial, have been met is highly alluring to cyber-criminals and its use will likely grow substantially in 2017.

 

3. Mobile payments will be at high risk

I’ve begun to notice more and more people at Starbucks paying with their mobiles in the last few months and in fact, a whopping 74% of Brtish consumers are mobile payments users. This is obviously an exciting prospect for Cyber-criminals, who are already actively looking for a way to breach these systems and gain access to money and valuable financial details.

Considering the rise and evolution of cyber threats to businesses in 2017, it’s hardly surprising we’ve already starting to see a rise in Escrow services to help counter these attacks.

 It’s vital that UK business leaders take all possible steps to protect their companies. Not just to reduce the fallout after an incident, but to completely eradicate the possibility of it happening in the first place.

Escrow London has grown to become one of the UK’s largest information management companies, servicing hundreds of companies across the UK, USA, Middle East, Africa and beyond.

Their wide mix of customers includes major banks, insurance firms, technology companies and software startups.

Get in touch for more information on how to adequately protect your business, and prevent yourself from being another cyber threat statistic.