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DIGITAL

&

TRENDSImpactofcybercrimeonorganizationsintheUnitedKingdom(UK)CHAPTER

01OverviewShareoforganizationsworldwidethatareatriskofamaterialcyberattackaccordingtoCISOsfrom2021to2023,bycountryGlobalcompaniesatriskforcyberattacksaccordingtoCISOs2021-2023,bycountry2021202260%40%64%44%%202384%83%80%75%75%74%73%72%65%58%58%58%55%UnitedKingdomGermanySingaporeUAE81%79%44%68%%SouthKoreaFrance68%65%50%63%56%78%50%58%80%34%31%38%28%44%72%27%UnitedStatesSpainJapanNetherlandsSwedenCanadaSaudiArabia4Description:A2023surveyamongChiefInformationSecurityOfficers(CISO)worldwideshowedthatsevenintenorganizationsworldwidewereatriskofamaterialcyberattackinthefollowing12months.Thisfigurehasincreasedby20percentcomparedtotheprioryear.Asof2023,companiesintheUnitedKingdom(UK)wereatthehighestriskofacyberattack,accordingto84percentofthesurveyedChiefInformationSecurityOfficers(CISO)fromvariousindustriesinthecountry.ReadmoreNote(s):Worldwide;2021to2023;1,400respondents;ChiefInformationSecurityOfficers(CISO),riskinthefollowing12months;*SouthKoreawasaddedin2023ReadmoreSource(s):Censuswide;ProofpointShareoforganizationsworldwidethatareatriskofamaterialcyberattackaccordingtoboardmembersasofJune2023,bycountryGlobalfirmsatriskofmaterialcyberattackasperboardmembers2023,bycountryShareofrespondents0%10%20%30%40%50%60%70%80%90%100%95%CanadaSingaporeJapan89%84%France80%Spain76%74%73%73%AustraliaGlobalGermanyItaly67%Mexico64%62%UnitedStatesBrazil57%UnitedKingdom44%5Description:Accordingtoa2023surveyamongboardmembersofworldwideorganizations,approximately95percentofcompaniesinCanadawereatriskofamaterialcyberattack.ThemajorityofboardmembersinSingapore,89percent,thoughttheircompanieswereatsuchriskwithinthefollowing12months.Japanesecompaniesrankedthird,with84percentofboardmembersseeingariskofamaterialcyberattackinthenextyear.ReadmoreNote(s):Worldwide;June9to19,2023;boarddirectors;expectedattacksinthenext12monthsSource(s):Censuswide;ProofpointBiggestconcernsofboardofdirectors(BOD)oforganizationsworldwideregardingcybersecurityin2023,bycountryCommoncybersecurityconcernsofglobalcompanyleaders2023,bycountryReputational

damage

Impact

onbusiness

valuationLoss

ofcurrentGlobal36%32%43%37%36%32%38%36%28%45%26%38%41%36%28%38%32%32%43%36%37%24%44%33%40%36%UnitedKingdomUnitedStatesCanadaFranceGermanyNetherlandsSwedenItalySpainSaudiArabiaUAEAustralia6Description:Accordingtoa2023surveyofChiefInformationSecurityOfficers(CISO)ofcompaniesworldwide,theboardofdirectors'threeleadingcybersecurityconcernswerereputationaldamage,lossofcurrentcustomers,andimpactonbusinessvaluation.ReputationaldamageappearedtobethemainconcernforbusinessleadersintheUnitedStates,Spain,Singapore,andBrazil,withbetween43and45percentofCISOsofeachmarketchoosingthatanswer.Roughly43percentoftherespondents[...]

ReadmoreNote(s):Worldwide;January30toFebruary7,2023;1,600respondents;ChiefInformationSecurityOfficers(CISOs)fromorganizationswithmorethan200employeesacrossdifferentindustriesin16countriesSource(s):Censuswide;ProofpointShareoforganizationsworldwidethathaveexperiencedalossofsensitiveinformationasofFebruary2023,bycountryGlobalfirmsexperiencingmateriallossofsensitiveinformation2023,bycountryShareofrespondents0%10%20%30%40%50%60%70%80%90%100%SwedenGermanyUnitedStatesJapan87%85%76%75%74%74%UnitedKingdomFranceAustraliaSaudiArabiaWorldwideSpain69%65%63%58%58%BrazilSingaporeItaly55%54%7Description:Accordingtoa2023surveyofChiefInformationSecurityOfficers(CISO)worldwide,nearlynineintenrespondentsinSwedensaidtheirorganizationhadencounteredalossofsensitiveinformationinthepast12months.Germanyrankedsecond,as85percentoftheCISOsstatedthesame.Overall,around63percentoforganizationsacrosstheresearchedmarketssaidtheyhaddealtwithmateriallossofsensitiveinformationinthepreviousyear.

ReadmoreNote(s):Worldwide;

January30andFebruary7,2023;1,400respondents;ChiefInformationSecurityOfficers(CISO);encounteredlossofsensitiveinformationinthepast12monthsSource(s):Censuswide;ProofpointLargestfinesissuedforGeneralDataProtectionRegulation(GDPR)violationsintheUnitedKingdom(UK)asofMay2023(inmillioneuros)UKlargestfinesissuedforviolationsofGDPR2023Amountoffineinmillioneuros0510152025BritishAirways(Oct2020)MarriottInternational,Inc(Oct2020)TikTok(Apr2023)22.0520.4514.5ClearviewAlInc.(May2022)9InterserveGroupLimited(Oct2022)EasylifeLtd.(Oct2022)5.031.551.41TicketmasterUKLimited(Nov2020)CabinetOffice(Nov2021)0.590.32DoorstepDispensareeLtd.(Dec2019)TuckersSolicitorsLLP(Mar2022)

0.128Description:SincetheEU'simplementationoftheGeneralDataProtectionRegulation(GDPR)inMay2018,thelargestfineissuedintheUnitedKingdom(UK)wasmorethan22millioneuros.Thisfine,receivedbyBritishAirwaysinOctober2020,wasbyfarthelargestinthecountry.AnotherfinereceivedbyMarriottInternationalInc.inthesamemonthwasthesecond-highestintheUKandamountedtoover20millioneuros.ReadmoreNote(s):Europe,EU;May2018toMay2023Source(s):CMSCHAPTER

02CybercrimeNumberofreportedcyber-dependentcrimeincidentsintheUnitedKingdom(UK)from4thquarter2022to2ndquarter2023NumberofcybercrimecasesintheUKQ42022-Q220239,0008,0008,1067,0006,0005,0004,0003,0002,0001,00006,6656,030Q42022Q12023Q2202310Description:Thenumberofcyber-dependentcrimeincidentsintheUnitedKingdom(UK)hasincreasedbetweenthefourthquarterof2022andthesecondquarterof2023.Inthemostrecentlymeasuredperiod,8,106suchincidentswerereportedinthemarket,upfrom6,030casesinthefourthquarterof2022.ReadmoreNote(s):UnitedKingdom;Q42022toQ22023;accordingtothesource'scharacteristics;widerindustrymetricsmaywarySource(s):money.co.ukNumberofreportedfraudandcybercrimeincidentsintheUnitedKingdom(UK)in2ndquarter2023,bytypeNumberoffraudandcybercrimecasesintheUKQ22023,bytypeNumberofcases05,00010,00015,00020,00025,00030,00035,000ConsumerAdvancefeeCyberdependentcrimeBanking30,8629,8728,1067,5326,452InvestmentCorporate1,451PublicsectorCourier208208Other21,89411Description:Inthesecondquarterof2023,30862consumerfraudcaseswerereportedintheUnitedKingdom,makingitthetypeoffraudwiththehighestnumberofreports.Advancefeerankedsecond,with9872reports.Cyberdependentcrime,whichindicatesdifferentformsofhackingandcybercrime,followedwithover8100reportedcases.ReadmoreNote(s):UnitedKingdom;Q22023;accordingtothesource'scharacteristics;widerindustrymetricsmaywarySource(s):money.co.ukPercentageofcompaniesintheUnitedKingdom(UK)identifyingcyberattacksasof2022ShareofUKbusinessesidentifyingcyberattacks2022Shareofrespondents25%0%5%10%15%20%30%35%40%45%50%20172018201920202021202246%46%43%32%39%39%12Description:Asof2023,almost30percentofbusinessesthatencounteredthemostdisruptivecybersecuritybreachesorattacksinthelast12monthsintheUnitedKingdom(UK)reportedthemtobanks,buildingsocieties,orcreditcardcompanies.Afurther10percentreportedittotheinternetornetworkserviceprovider.ReadmoreNote(s):UnitedKingdom;October16,2021toJanuary21,2022;1,243respondentsSource(s):IpsosShareoforganizationsworldwidehitbyransomwareattacksin2022and2023,bycountryOrganizationshitbyransomwareattacks2022-2023,bycountryShareofrespondents2023

202240%0%10%20%30%50%60%70%80%90%84%84%SingaporeAustriaAustraliaSouthAfricaSwitzerlandSpainIndiaUnitedStatesBrazil65%50%80%70%78%51%75%75%60%71%73%78%68%68%48%55%66%GlobalAverageItaly66%65%64%61%France73%13Description:Onaverage,66percentoforganizationsworldwidewerevictimsofaransomwareattackbetweenMarch2022andMarch2023,accordingtoasurveyconductedamongcybersecurityleadersofworldwideorganizations.Singaporerankedfirstbytheransomwarerateincompanies,with84percentreportinghavingencounteredsuchanattackinthelast12months.CompaniesinSouthAfrica,Spain,andSwitzerlandfollowed,withupto78percentoftheorganizationsexperiencingransomware[...]

ReadmoreNote(s):Worldwide;2022and2023;5,600respondents;ITdecisionmakersandcybersecurityleadersSource(s):Sophos;VansonBourneShareofcompaniesintheUnitedKingdom(UK)havingexperiencedcybercrimeinthelastyearasofJanuary2023,bybusinesssizeUKcybercrimeexperiencedbybusinessesinthelastyear2023,bybusinesssize40%37%35%30%25%20%15%10%5%26%20%12%11%10%0%BusinessesoverallMicrobusinessesSmallbusinessesMediumbusinessesLargebusinessesWithinprofessional,scientificandtechnical14Description:AsofJanuary2023,around37percentoflargecompaniesintheUnitedKingdom(UK)hadexperiencedcybercrimewithinthepastyear.Mediumbusinessesrankedsecond,with26percentofcompaniesexperiencingcybercrime.Overall,about11percentofUKbusinessesstatedhavingexperiencedanyformofcybercrimeintheprecedingyear.ReadmoreNote(s):UnitedKingdom;September27,2022toJanuary18,2023;887respondents;amongUKbusinessesthatidentifiedabreachorattackinthelast12monthsSource(s):GOV.UK;IpsosMORIShareofcompaniesintheUnitedKingdom(UK)havingexperiencedcybercrimeinthelastyearasofJanuary2023,byattacktypeUKcybercrimeexperiencedbybusinessesinthelastyear2023,byattacktype100%89%90%80%70%60%50%40%30%20%10%0%12%7%4%2%PhishingattacksViruses,spyware,ormalware

Hacking(unauthorisedaccessoronlinetakeovers)RansomwareDenialofserviceattacks15Description:AsofJanuary2023,aroundnineintenbusinessesintheUnitedKingdom(UK)statedhavingexperiencedaphishingattackinthepastyear.Afurther12percentsaidtheyhadexperiencedviruses,spyware,ormalware.Hackingwasthecaseforsevenpercentoftheorganizationsthatreportedaboutencounteringanycybercrimeintheprecedingyear.ReadmoreNote(s):UnitedKingdom;September27,2022toJanuary18,2023;887respondents;amongUKbusinessesthatidentifiedabreachorattackinthelast12monthsSource(s):GOV.UK;IpsosMORIShareofcompaniesintheUnitedKingdom(UK)havingexperiencedransomwareattacksinthepastyearasofNovember2021and2022RansomwareattacksinUKcompaniesinthepastyear2021-202280%74.7%73%70%60%50%40%30%20%10%0%2021202216Description:ANovember2022surveyofcompaniesintheUnitedKingdom(UK)foundthattheshareoforganizationshavingexperiencedransomwareattacksinthepastyearwas74.7percent.Thisisanuptickfrom73percentintheyearprior.

ReadmoreNote(s):UnitedKingdom;November2021andNovember2022;ITsecurityprofessionals;percentageindicatingcompromiseis"morelikelytooccurthannotinthenext12monthsSource(s):CyberEdgeShareofcompaniesintheUnitedKingdom(UK)expectingsignificantincreaseincybercrimewithinayearasofFebruary2023,bytypeofattackUKcompaniesanticipatingincreaseincyberattackswithinayear2023,byattacktype35%30%25%20%15%10%5%33%27%27%24%20%0%AgainstcloudmanagementinterfacesBusinessemailcompromise(BEC)´Hackandleak`attacksRansomwareIndustrialInternetofThings(IIoT)andoperationaltechnology(OT)17Description:AsurveyofseniorexecutivesofcompaniesintheUnitedKingdom(UK)conductedinFebruary2023foundthat33percentanticipatedasignificantincreaseincyberattacksagainstcloudmanagementinterfaces.Furthermore,27percentexpectedanotableincreaseinbusinesse-mailcompromise(BEC)attacks.Aboutaquarterofsurveyedexecutivesanticipatedasignificantincreaseinransomwareattacks.ReadmoreNote(s):UnitedKingdom;February2023;UKseniorexecutivesSource(s):PwCUKEntitiestowhichcybersecurityincidentsarereportedtobycompaniesintheUKasof2023EntitiestowhichcyberattacksarereportedtobybusinessesintheUK2023Shareofrespondents10%0%5%15%20%25%30%Bank,buildingsocietyorcreditcardcompanySuppliers28%11%10%Internet/networkserviceproviderCustomers8%Specifictechcompanies(e.g.Amazon)Websiteadministrator6%5%Actionfraud5%5%OrganizationthatwassourceofbreachorattackAnothergovernmentagencyInformationCommissioner`sOffice(ICO)2%2%18Description:Asof2023,almost30percentofbusinessesthatencounteredthemostdisruptivecybersecuritybreachesorattacksinthelast12monthsintheUnitedKingdom(UK)reportedthemtobanks,buildingsocieties,orcreditcardcompanies.Afurther10percentreportedittotheinternetornetworkserviceprovider.ReadmoreNote(s):UnitedKingdom;Decmber2022toFebruary2023;210respondents;amongUKbusinessesthatreportedthebreach,excludingthosewhoreportedonlytotheiroutsourcedcyberserviceproviderSource(s):GOV.UK;IpsosMORICHAPTER

03DatabreachesMostsignificantdatabreachesintheUnitedKingdom(UK)betweenJuly2011andMay2023,byimpactBiggestdatabreachesintheUK2023,byimpactName

ofthe

organizationImpact14millionpersonalrecordsand5.6millionpaymentcardinformation15.2millionrecordsDixonsCarphone(Jul2017toApr2018)Equifax(2011-2016)EasyJet(Oct2019-Mar2020)TheNationalHealthService(NHS)(Jul2011-Jul2012)VirginMedia(Mar2020)9millioncustomersand2200creditcardsdetails1.8millionrecords900000customersaffectedJDWetherspoon(Jun2015)BritishAirways(Jun2018-Sep2018)Wonga(Apr2017)650000customersaffected500000paymentcarddetails270,000customerrecordsThreeMobileUK(Nov2016)TalkTalk(Oct2015)130,000customerrecords157,000records20Description:AsofMay2023,themostsignificantdatabreachcaseintheUnitedKingdom(UK)wasthe2017-2018DixonsCarphonebreach.Asaresultofthisincident,14millionuserrecordswereaffected,and5.6millionpaymentcardinformationwasexposed.TheEquifaxdatabreachbetween2011to2016impactedover15millioncustomersnationwide.ReadmoreNote(s):UnitedKingdom;2011to2023Source(s):UpGuardNumberofdatarecordsexposedindatabreachesintheUnitedKingdom(UK)from1stquarter2020to3rdquarter2023(inmillions)UKnumberofbreacheddatapointsinQ12020-Q320231614.84141210810.218.987.37.16.2165.1141.3421.21.050.960.640.480.420.370Q1'20Q2'20Q3'20Q4'20Q1'21Q2'21Q3'21Q4'21Q1'22Q2'22Q3'22Q4'22Q1'23Q2'23Q3'2321Description:Inthesecondquarterof2023,thenumberofbreacheddatarecordsintheUnitedKingdom(UK)wasabout420thousand.Thefiguredecreasedsignificantlyfromnearly15millioninthefirstquarterof2021.Thelowestnumberinthemeasuredperiodwasregisteredinthefirstquarterof2023,around370thousanddatapoints.ReadmoreNote(s):UnitedKingdom;Q12020toQ32023Source(s):SurfSharkNumberofbreacheduseraccountsperthousandindividualsintheUnitedKingdom(UK)from3rdquarter2022to3rdquarter2023DatabreachdensityintheUKQ32022-Q320231816.4161414121088664320Q32022Q42022Q12023Q22023Q3202322Description:DatabreachdensityIntheUnitedKingdom(UK)hasslightlydecreasedbetweenthethirdquarterof2022andthethirdquarterof2023.Inthefirstmeasuredquarter,thenumberofexposeddatapointsperthousandindividualsinthecountryreached16.4,whileitwentdownto6inthethirdquarterof2023.Overall,breachdensityintheUnitedKingdomwasrelativelylowerthaninotherworldwidemarkets.ReadmoreNote(s):UnitedKingdom;Q32022toQ32023;numberofbreacheddatasetsperthousandindividualsSource(s):SurfSharkQuarter-on-quarterchangeinthenumberofbreacheddatarecordsintheUnitedKingdom(UK)from2ndquarter2020to3rdquarter2023UKchangeinnumberofdatasetsaffectedindatabreachesQ22020-Q32023500%400%300%200%100%0%-100%-200%Q22020

Q32020

Q42020

Q12021

Q22021

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q22023

Q3202323Description:Betweenthesecondandthirdquartersof2023,thenumberofbreacheddatapointsintheUnitedKingdom(UK)increasedbyaround56percent.Incomparison,thefiguresawanincreaseof157percentbetweenthefirstandsecondquartersof2023.Overall,thenumberofbreacheddatarecordshasoftenvariedinthemeasuredperiod.ReadmoreNote(s):UnitedKingdom;Q22020toQ32023Source(s):SurfSharkNumberofdatapointsleakedindatabreachesinUnitedKingdom(UK)from2004to2023YTD,bytypeofdata(inmillions)MostcommondatapointsleakedintheUK2004-2023YTD,bytype1,2001,000800986.7600479.32400232.71200109.4452.5456.0356.67Name0FirstnamePasswordhashUsernamePasswordOtherTotal24Description:Between2004and2023,internetusersintheUnitedKingdom(UK)haveseenmanysignificantdatabreaches.Intheseincidents,users'passwordswerethemostfrequentlyleakedtypeofdata,withanoverall232.71millionpasswordsbeingleakedinthemeasuredperiod.Usernamerankedsecond,followedbynames.ReadmoreNote(s):UnitedKingdom;2004to2023YTDSource(s):SurfSharkFrequencyofdatabreachincidentsamongbusinessesintheUnitedKingdom(UK)asofJanuary2023UKfrequencyofdatabreachesexperiencedbybusinesses202335%29%30%25%20%15%10%5%28%19%11%6%5%3%0%OnlyonceLessthanonceamonthOnceamonthOnceaweekOnceadaySeveraltimesadayDonotknow25Description:AsofJanuary2023,about20percentoforganizationsintheUnitedKingdomreportedexperiencingadatabreachaccidentonceamonth.Afurther29percentsaidtheyhadencounteredadatabreacheventlessthanonceamonthinthepast12months.Meanwhile,11percentsaidtheyhadexperiencedadatabreachincidentonceaweek.ReadmoreNote(s):UnitedKingdom;September27,2022toJanuary18,2023;887respondents;amongUKbusinessesthatidentifiedabreachorattackinthelast12monthsSource(s):GOV.UK;IpsosMORICHAPTER

04CostofcybercrimeEstimatedannualcostofcybercrimeintheUnitedKingdom(UK)from2017to2028(inbillionU.S.dollars)AnnualcostofcybercrimeintheUK2017-20282,0001,8001,6001,4001,2001,0008001,8161,301904639.2600452.3400320220.12022153200010565.47201937.41201819.420172020202120232024*2025*2026*2027*2028*27Description:CybercrimecostsintheUnitedKingdom(UK)reachedanestimated320billionU.S.dollarsasof2023.Between2017and2023,thisfigurehasseenasignificantincreaseofover300billionU.S.dollars.Accordingtothelatestestimates,thisdynamicwillcontinueinupcomingyears,reachingapproximately1.82trillionU.S.dollarsincybercrimecostsby2028.ReadmoreNote(s):UnitedKingdom;2017to2023;*Estimate.ReadmoreSource(s):TechnologyMarketInsightsAveragecostsofallcyberattacksintheUnitedStatesandEuropefrom2021to2023,bycountry(inthousandU.Sdollars)MediancostsofallcyberattacksintheU.SandEurope2021-2023,bycountryAveragecostinthousandU.Sdollars20232022202115051020253024.2UnitedKingdomGermany28141616212420UnitedStatesTheNetherlandsFrance191021.418181217179.6Ireland812.4Spain121218.7Belgium101228Description:Cyberattacksonbusinessesꢀarebecomingꢀmorefrequent,targeted,andcomplex.Theeffectsofacyberattackgowellbeyondthedirectfinancialconsequences.In2022,UnitedKingdomhadthehighestaveragecostofcyberattacks,at24.2thousandU.S.ꢀdollars.ReadmoreNote(s):Belgium,France,Germany,Ireland,Netherlands,Spain,UnitedKingdom,UnitedStates;January9toFebruary2,2023;5,005respondents;Basedonasurveyofexecutives,departmentalheads,ITmanagersandotherkeyprofessionalsSource(s):ForresterResearch;HiscoxAveragecostofadatabreachintheUnitedKingdom(UK)from2020to2023(inmillionU.S.dollars)CostofadatabreachintheUnitedKingdom(UK)2020-202365.0554.674.213.943210202020212022202329Description:Asof2023,theaveragedatabreachcostintheUnitedKingdom(UK)wasaround4.21millionU.S.dollars.Inthemeasuredperiod,2022registeredthehighestcostforbreacheddata,morethanfivemillionU.S.dollars.Thefigure,thus,hasincreasedfrom3.9millionU.S.dollarssince2020.ReadmoreNote(s):UnitedKingdom;2020to2023Source(s):IBMMonetarylossesthroughreportedcyber-dependentcrimecasesintheUnitedKingdom(UK)from4thquarter2022to2ndquarter2023(inmillionGBP)LossesthroughcybercrimecasesintheUKQ42022-Q220232.01.81.81.61.41.21.00.80.60.40.20.01.31.1Q42022Q12023Q2202330Description:Betweenthefourthquarterof2022andthesecondquarterof2023,themonetarylossescausedbycyber-dependentcrimeintheUnitedKingdom(UK)fluctuated.Inthefirstquarterof2023,thelossamountwas1.8millionGBP,upfrom1.3millionGBPinthefourthquarterof2022.Inthesecondquarterof2023,theamountoflossesduetocybercrimeincidentsdecreasedagain,totaling1.1millionGBP.ReadmoreNote(s):UnitedKingdom;Q42022toQ22023;Accordingtothesource'scharacteristics;widerindustrymetricsmaywarySource(s):money.co.ukAveragemonetarylossperreportedfraudandcybercrimeincidentintheUnitedKingdom(UK)in2ndquarter2023,bytypeofcrime(inGBP)AveragelossinfraudandcybercrimecasesintheUKQ22023,bytype25,00021,43320,95520,00015,00010,0005,000016,4198,1736,107Other3,0042,20813651.9CorporateInvestmentBankingCourierConsumerAdvancefeeCyberdependentcrimePublicsector31Description:Inthesecondquarterof2023,anaveragemonetarylosspercorporatefraudcaseintheUnitedKingdom(UK)amountedtomorethan21thousandGBP.Investmentfraudrankedsecondbyaveragelossespercase,withnearly21thousandGBP.Inthemeasuredperiod,bankingfraudwasthethirdcategorybyamountoflosses.ReadmoreNote(s):UnitedKingdom;Q22023;Accordingtothesource'scharacteristics;widerindustrymetricsmaywarySource(s):money.co.ukMonetarylossininternetbankingfraudincidentsintheUnitedKingdom(UK)from1sthalf2019to1sthalf2023(inmillionGBP)LossininternetbankingfraudcasesintheUKH12019-H1202312010810080604020095.464.363.158.655.553.450.348.8H12019H22019H12020H22020H12021H22021H12022H22022H1202332Description:Betweenthefirsthalfof2019andthefirsthalfof2023,theamountofmonetarylossesthroughinternetbankingfraudcasesintheUnitedKingdom(UK)hasseensignificantfluctuations.Inthemeasuredperiod,thehighestamountoflosswasregisteredinthefirsthalfof2021,about108millionGBpounds.Incomparison,UKinternetbankingusersandrelatedorganizationslostapproximately53millionGBpoundsinthefirsthalfof2023.ReadmoreNote(s):UnitedKingdom;H12019toH12023;accordingtothesource'scharacteristics;widerindustrymetricsmaywarySource(s):UKFinanceMonetarylossinmobilebankingfraudincidentsintheUnitedKingdom(UK)from1sthalf2019to1sthalf2023(inmillionGBP)LossinmobilebankingfraudcasesintheUKH12019-H120232018.718.21816141210817.116149.98.77.55.36420H12019H22019H12020H22020H12021H22021H12022H22022H1202333Description:Betweenthefirsthalfof2019andthefirsthalfof2023,theamountofmonetarylossesthroughmobilebankingfraudcasesintheUnitedKingdom(UK)hasincreasedsignificantly.Inthelastmeasuredperiod,thelossesamountedtoaround18.7millionGBpounds,upfrom5.3millioninthefirsthalfof2019.ReadmoreNote(s):UnitedKingdom;H12019toH12023;accordingtothesource'scharacteristics;widerindustrymetricsmaywarySource(s):UKFinanceAveragetotalcostofthemostdisruptivecybersecuritybreachforbusinessesintheUnitedKingdom(UK)in2023(inGBP)AveragecostofthemostdisruptivecybersecurityattackforUKbusinesses20236,0004,9605,0004,0003,0002,0001,00001,100870Medium/largebusinessesMicro/smallbusinessesAllbusinesses34Description:Cyberattacksarepotentiallyruinouseventsforbusinessowners.Asof2023,theaveragecostthemostdisruptivecybersecuritybreachintheprevious12monthsintheUnitedKingdomwas1,100Britishpoundsacrossallbusinesses,however,thisfigurebecomesgreaterasthesizeofabusinessincreases.Thecostofacyberattackisnotonlyfinancial,withcompanieshavingtospendtimeonrecoveringfromtheattacks.

ReadmoreNote(s):UnitedKingdom;September27,2022toJanuary18,2023;2,263respondents;amongUKbusinessesthatidentifiedabreachorattackinthelast12monthsSource(s):GOV.UK;IpsosMORIAverageestimateddirectlong-termcostofthemostdisruptivecybersecuritybreachforbusinessesintheUnitedKingdom(UK)asof2023(inGBP)Cybersecurity:long-termcostofmostdisruptivebreachforUKbusinesses2023AveragecostinGBP02004006008001,0001,2001,400Medium/largebusinessesMicro/smallbusinessesAllbusinesses1,2608015035Description:AsurveyconductedintheUnitedKingdombetweenDecember202andJanuary2023foundthattheaveragelong-termcostofthemostdisruptivebreachesformediumandlargebusinessesamountedto1,260Britishpounds.ThesurveywasconductedamongUKbusinessesthatidentifiedtheirmostdisruptivebreachorattackinthelast12months.Inthecaseofmicroandsmallbusinesses,theaveragelong-termcostofthemostsignificantbreachorattackwas80Britishpounds.

ReadmoreNote(s):UnitedKingdom;September27,2022toJanuary18,2023;2,

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