{"id":18971,"date":"2025-02-25T16:12:10","date_gmt":"2025-02-25T15:12:10","guid":{"rendered":"https:\/\/cyberinsights.iainfraser.net\/?p=18971"},"modified":"2026-06-11T15:34:44","modified_gmt":"2026-06-11T13:34:44","slug":"the-cost-of-cybercrime","status":"publish","type":"post","link":"https:\/\/smecyberinsights.co.uk\/index.php\/2025\/02\/25\/the-cost-of-cybercrime\/","title":{"rendered":"CYBER INSURANCE: Cybercrime cost UK Business in excess of \u00a344 Billion in lost revenue"},"content":{"rendered":"\t\t
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\"Partners1_NordVPN\"<\/figure><\/div>
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Helping Keep Small Business CYBERSafe!
\n<\/strong>Gibraltar: Tuesday 25 February 2025 at 16:04 CET<\/p>\n

CYBER INSURANCE: Cybercrime cost UK Business in excess of \u00a344 Billion in lost revenue over past 5 years \u2026\u00a0\u00a0<\/strong>\u00a0<\/b><\/p>\n

By: Iain Fraser<\/a> – Cybersecurity Journalist<\/a>
\nCYBERInsights<\/a> \u2013\u00a0The UK Small Business Cybersecurity Network<\/a>
\n<\/em>Google Indexed on 250225 at 17:15 CET<\/a>
\n#CyberInsights #CyberSecurity #CyberAwareness #CyberSafe #SME #SmallBusiness #CyberInsurance
\n<\/em><\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Cyberattacks have inflicted a staggering \u00a344 billion (\u20ac52.64 billion) in revenue losses on UK businesses over the past five years, according to a report by insurance broker\u00a0Howden<\/a>.<\/strong><\/p>\n

Over half (52%) of private sector companies reported experiencing at least one attack during this period, with the financial impact averaging 1.9% of annual revenue per business.<\/p>\n

The report<\/a>\u00a0highlights that businesses with annual revenues exceeding \u00a3100 million are the most frequent targets, underscoring the vulnerabilities faced by larger enterprises. However, the findings also reveal significant opportunities for cost reduction.\u00a0Howden<\/a><\/strong>\u00a0estimates that companies could slash\u00a0Cyberattack<\/strong>-related losses by up to 75%\u2014equivalent to \u00a330 billion\u2014by adopting basic\u00a0Cybersecurity<\/strong>\u00a0measures more broadly.<\/p>\n

Key vulnerabilities cited include compromised emails, accounting for 20% of incidents, and data theft, which comprised 18% of cases. Despite these risks, only 61% of businesses use antivirus software, and just 55% have implemented network firewalls.<\/p>\n

Barriers to stronger\u00a0Cybersecurity<\/strong>\u00a0include cost constraints and a lack of internal IT expertise, leaving many companies exposed to potential threats.<\/p>\n

The findings highlight a pressing need for Businesses to prioritize\u00a0Cybersecurity<\/strong>\u00a0measures to mitigate financial and operational risks in an increasingly digital economy.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tLEARN MORE \/...<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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SMECYBER Insights \u2013 Helping Keep Small Business CYBERSafe!\u00a0<\/strong><\/p>\n

Launched in 2020 by\u00a0Cybersecurity Journalist<\/a>\u00a0Iain Fraser<\/strong>\u00a0and his team at\u00a0IfOnly…<\/strong><\/a> SMECYBERInsights<\/strong><\/a> was developed to be the go-to platform providing definitive, reliable & actionable Cybersecurity News, Intel,\u00a0 Awareness & Training specifically written and curated for Small Business<\/strong><\/a> & Enterprise Owners, Partners and Directors throughout the UK.\u00a0#SMECyberInsights #SMECyberSecurity #CyberAttack #CyberAwareness\u00a0 #Compliance #DDoS #Fraud #Ransomware #ScamAlert #SME #SmallBusiness #SmallBusinessOwner #ThreatIntel <\/span>\u00a0<\/em><\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Image Credit: Rawpixel.com LEARN MORE \/… Image Credit: IfOnlyCommunications<\/p>\n","protected":false},"author":1,"featured_media":16078,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"yes","footnotes":""},"categories":[565],"tags":[517,567],"ppma_author":[505],"class_list":["post-18971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cybernewsbytes","tag-cyberawareness","tag-cybernewsbyte"],"featured_image_urls":{"full":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-scaled.jpg",2560,1921,false],"thumbnail":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-150x150.jpg",150,150,true],"medium":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-300x225.jpg",300,225,true],"medium_large":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-768x576.jpg",640,480,true],"large":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-1024x769.jpg",640,481,true],"1536x1536":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-1536x1153.jpg",1536,1153,true],"2048x2048":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-2048x1537.jpg",2048,1537,true],"covernews-featured":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-1024x769.jpg",1024,769,true],"covernews-medium":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/11\/Image20Credit20Rawpixel.com_Freepik_compressed-540x340.jpg",540,340,true]},"author_info":{"display_name":"Cybersecurity Journalist Iain Fraser","author_link":false},"category_info":"SMECYBERNEWSBYTES<\/a>","tag_info":"SMECYBERNEWSBYTES","comment_count":"0","authors":[{"term_id":505,"user_id":1,"is_guest":0,"slug":"admin_yjdstq4n","display_name":"Cybersecurity Journalist Iain Fraser","avatar_url":{"url":"https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/10\/index_image440-removebg-preview.png","url2x":"https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/10\/index_image440-removebg-preview.png"},"author_category":"1","user_url":"http:\/\/smecyberinsights.co.uk","last_name":"Cybersecurity Journalist","first_name":"Iain Fraser","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/18971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=18971"}],"version-history":[{"count":12,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/18971\/revisions"}],"predecessor-version":[{"id":29267,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/18971\/revisions\/29267"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/media\/16078"}],"wp:attachment":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=18971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=18971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=18971"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/ppma_author?post=18971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}