British businesses are getting a bit jumpy about cyberattacks, especially after the Marks & Spencer hack that rattled the industry. A recent survey shows that two thirds of security leaders believe they could be the next victims of a similar attack, and the financial fallout could be catastrophic, running into millions.
The survey, conducted by Absolute Security, found that remote working poses a significant threat, with 62% of security leaders citing home devices as their biggest vulnerability. As a result, over a third have put the brakes on using AI tools due to these cybersecurity risks.
Source: Intelligent CIO Europe
Key Points
- Two-thirds of UK security leaders fear being hit by a cyberattack like the one on Marks & Spencer.
- Marks & Spencer’s attack cost approximately £300m and significantly impacted its market value.
- Remote work devices are seen as the most significant weakness in digital security by 62% of surveyed leaders.
- The financial repercussions of ransomware attacks could ‘cripple’ over 63% of organisations.
- 34% have instituted complete bans on AI due to concerns over cybersecurity.
Why should I read this?
If you’re working from home or leading a business, this article is a must-read! It highlights the very real risks associated with remote working and how a single cyberattack can have dramatic consequences on your organisation. By getting the details, you stay one step ahead of potential threats and can better protect your business.