A new online cyber-risk tool has been produced to allow organisations to assess their cyber-security strengths and weaknesses.
The tool has been created in response to research from BAE Systems that reveals weaknesses in UK cyber-security measures that are putting businesses at risk. It will allow businesses to also understand where there might be vulnerabilities to attack.
The survey polled 100 business leaders, C-Suite level or decision makers within their IT department, from UK private sector organisations with more than 1,000 employees.
The research showed that one in five business leaders don't know if their organisation has the right cyber-security controls in place. However, 79 percent believe that they have the appropriate security controls in place to defend against cyber-attacks.
More than half (57 percent) said they had experienced a cyber-attack in the past year. The average cost of a cyber-attack was revealed to be at least £330,000. For one in ten though, costs can go up to £1million.
“Businesses need to ensure they have the right people, process and tools in place, so when a major incident occurs they are equipped to understand, contain and remediate. If action isn't taken immediately, the price of cyber-ignorance – for the company and the wider economy – could be catastrophic,” said Julian Cracknell, managing director for UK services at BAE Systems Applied Intelligence.