A quarter of UK businesses think their cybersecurity isn't up to scratch

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More than half of UK’s large businesses have suffered a cybersecurity attack in the past 12 months, new findings have revealed. 

Based on a poll of 500 UK C-level executives, the report states that 53 per cent do not have a formalised protocol for cyber-attacks in place.

Email is the biggest threat factor, the report says, as cybercriminals use this channel the most, to trick staff into revealing passwords or financial information, or to open malicious attachments.

Yet, 70 per cent of businesses haven’t bought a cyber-security solution in the past two years.  

The report was issued by LORCA, or London Office for Rapid Cybersecurity Advancement. It is a newly-opened centre for cyber innovation. It was opened by UK Secretary of State for Digital, Culture, Media and Sport (DCMS), Matt Hancock.

The centre will be run by Plexal in the East London Innovation Centre. It is developed and owned by Delancey’s DV4 fund and made possible thanks to a partnership with Deloitte’s cyber team, as well as the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast.

 Lloyds Banking Group will be its first founding partner.

"Britain’s future prosperity will be based on its digital technology and no technology can work without cyber security so expanding this sector is critical to our future,” Hancock said.

“It’s fantastic to open this new centre where some of our most talented entrepreneurs and innovative companies will develop the cyber security technology of tomorrow. This will boost London's booming tech sector and benefit businesses across the country. We are investing £1.9 billion to protect the nation from cyber threats, have introduced new laws to strengthen our defences, and developed a wealth of free help and guidance for businesses available through our National Cyber Security Centre.”

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