Cybersecurity is Now a Major Issue for UK Companies

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After years of apathy it appears that British companies are finally waking up the the fact that the internet is a scary place and cyber threats are a real a present danger to their business. Cybersecurity specialist Trustwave have gone through the last three annual reports of FTSE 100 companies to look for references to ‘cybersecurity’ as a risk or uncertainty facing the business. In 2012, only 49% of companies referenced online security, in 2013 it was 60% and by 2014 it was 76%.

The data confirms that cybersecurity in now a mainstream corporate issue, not just for tech companies but other businesses as well; health care companies on the FTSE 100 increased their awareness of cyber security from 25% to 75% between 2012 and 2014. The exact reason for the brisk uptake in interest in cyber-crime is up for debate, but it’s fair to say the highly publicised costly embarrassment of Sony Pictures by hackers might have something to do with it.

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Quote of the Day

Dr Alexander Kogan, the app developer who originally harvested the Facebook data, said…

“I think what Cambridge Analytica has tried to sell is magic and made claims this is incredibly accurate and it tells you everything there is to tell about you. But I think the reality is it’s not that. If you sit down and you really work through the statistics and you think what does a correlation of point three means, those claims quickly fall apart. And that’s something any person with a statistical background can go and do.”

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