Corona Virus has not only exposed over 65,000 UK businesses to cyber attacks, but a study claims that 44% of respondents will not use the brand again if their data was to be breached or has been breached in the cyber incidents- a matter of concern to retail and service providers.
The findings were released in a report titled Cybersecurity: Building Business Resilience and the stats were compiled through a survey conducted by ‘Robert Walters’ and data services provider ‘Vacancy Soft’.
Coming to the average financial loss, data breaches are costing companies £2.48m per instance, says the study that also claims that 48% of UK companies do not have adequate Cybersecurity measures to support their remote workers.
And the only positive point found in the survey is that 17% of companies offering service to the Goods & services sector have filled most of their job vacancies related to Cybersecurity as they have finally educated themselves about the sensitivity of the said field for their business perpetuation.
Meanwhile, as COVID 19 spread made many of the companies order their workforce to work from home, over 70% of white collar firms were found to be engaging their workforce in remote working by securing their IT infrastructure with necessary measures.
Banking and Financial sectors maintained their IT security with excellence, all thanks to the robust level of regulatory placed on the said industry.
However, the legal sector that often deals with high volumes of information seems to have failed in maintaining the regulatory standards, as the industry never makes certifications related to Cybersecurity as obligatory.