Majority of UK Businesses Believe Hybrid Working is Making Them More Susceptible to Cyber Attacks聽

Latest research* from听谤别惫别补濒蝉:

  • Over two thirds (67%)聽of UK business leaders think their company is more vulnerable to cyber attacks if staff work in a hybrid or remote environment
  • Despite this, four in ten (39%)聽say their business does not have comprehensive cybersecurity insurance in place
  • Nearly half (40%) reveal they would be willing to pay at least a five-figure ransom to resume operations efficiently
  • One in three (31%) businesses have lost money due to security breaches in the last 12 months

Over two thirds (67%)聽of business leaders in the United Kingdom believe their company is more vulnerable to cyber attacks as a result of their staff working more remotely; the latest research from聽庐, the leader in security operations, has today revealed.

The new research underlines the extent of the cybersecurity concerns many businesses are now feeling, with聽nearly half (40%)聽willing to pay at least a five-figure ransom just to ensure they can resume their business operations efficiently. For聽over a third (35%)聽of business bosses, ransomware is the type of cyber attack that is worrying them the most, and聽a fifth (20%)聽reveal their business has previously concealed a cyber attack to preserve their reputation.

Yet, despite the cybersecurity fears many UK businesses are facing, Arctic Wolf鈥檚 report also found that protection and workforce knowledge are not being prioritised.聽Four in ten (39%)聽of those surveyed say their business does not have comprehensive cybersecurity insurance in place,聽62 per cent聽do not have confidence their employees have the ability to identify every type of potential cyberattack, and聽a third (31%)聽say they have paid out between 拢36,000 and 拢216,000 to address security breaches in the past year alone.

When assessing wider attitudes towards cybersecurity, enterprise leaders believe Russia聽(43%)聽and China聽(38%)聽are still the sources of the most dangerous threats targeting their businesses and think better relationships between the public and private sectors聽(33%)聽could help stem the tide of cyberattacks in the future.

鈥淭he constant reports of successful ransomware attacks and growing cyber threats from foreign adversaries over the past year have left executives feeling ill-prepared to protect their businesses against sophisticated attacks, and that belief has only been compounded by the operational challenges of running a business in a hybrid work environment,鈥澛燾omments Ian McShane, field chief technology officer, Arctic Wolf.聽鈥淭he best way for organisations to break out of this cycle of fear and uncertainty is for them to recognise that they don鈥檛 have a tools problem, but an operational one and that embracing security operations will allow them to address the rapidly evolving threat landscape with ease and simplicity.鈥

This research is the latest part of Arctic Wolf鈥檚 wider report assessing the extent of the cybersecurity challenges currently facing UK businesses. Earlier this year, Arctic Wolf expanded its operations into the EMEA market and established its European headquarters in London. Alongside the UK, the business is actively growing its presence in the Nordics and the Benelux regions and plans to open its first European Security Operations Center (SriOC) in Germany later this year. The company鈥檚 international expansion comes on the heels of the company doubling its North American sales for an eighth consecutive year and recently securing a $150 million series F financing round, valuing the business at $4.3 billion.

For additional insights from the research, visit聽arcticwolf.com聽to read a blog post from Field CTO Ian McShane.