Flair4IT, a UK based IT solutions company, has completed their review of the biggest security threats of the first half of 2015. The results, which revealed the six most shocking and current threats, clearly demonstrate the need for increased overall security. Some of the areas that require specific attention were found to be web apps and online banking.
UK based IT solutions company Flair4IT had started to review the biggest online security threats facing online users during the first half of 2015. They have now completed their review and have released some truly shocking statistics. They found that:
- 98% of common web applications are at risk of cyber-attack.
- 90% of large businesses have reported that they experienced a security breach.
- 75% of company directors and CEOs do not have any involvement in understanding the possible cyber risks.
- 93% of security breaches can be traced back to simple human error.
- Online banking fraud was up by 48%.
- There was a 144% increase in business cyber-attacks.
Flair 4 IT spent the past few months going over details about online security that enabled them to find these statistics. They worked together with a number of other notable organizations, including Trustwave, where they found the details about the vulnerability of web applications.
Citing a report from the Department of Business, Innovation and Skills, it was uncovered that almost every organization suffered some sort of security breach during the first half of 2015. Organizations most at risk were the larger ones, but some 74% of small businesses also suffered an attack.
They were particularly concerned about the fact that so few CEOs and directors have any involvement with the review of their defenses against cyber-attacks. It is hoped that the next half of this year will see a notable improvement in that, although it is not expected. However, considering the fact that it seems to be that the weakest link in cyber security is actually people, the need for the senior levels of all organizations to get involved seems even more pertinent. Flair4IT received a request from The Information Commissioner’s Office to drive this point home again, as it shows that most cyber-attacks could have been prevented through better overall management.
Unfortunately, online banking also seems to be coming less secure. In the UK, online banking fraud rose by 48% year on year and the total cost of this was £60.4 million. Some 53,192 individual people were affected by online banking fraud. This equates to a cost of around £1,135 per person. Worryingly, despite the fact that so much information is now provided to people about the importance of keeping their details safe, most banking security breaches continue to be caused by people who are tricked into sharing their details, and almost always over the telephone.
Finally, Flair4IT found the Cyberthreat Yearbook by CYREN, which showed that cyber-attacks overall have seen an increase of 144% in a period of four years. This clearly demonstrates the need for companies to be ‘cyber resilient’.
Tim McIntosh, involved in the Flair4IT report, stated that:
“Cyber resilience is something all businesses need to have. This means that they can repel the vast majority of cyber-attacks, but also that they can respond to any attempted or successful attack. Unfortunately, the statistics are nothing short of shocking and actually show that businesses seem to be becoming less concerned with their IT infrastructure’s safety. The six facts above, we believe, are just the tip of the iceberg and we hope it pushes more businesses into taking these issues more seriously. After all, a security breach affects thousands of people.”