Craig Pepper
May 11, 2023
4 Min Read

The Cost of Data Breaches and the Importance of Cyber Essentials

Data breaches are one of the most serious threats facing businesses, charities, and educational institutions today. A data breach can result in financial losses, reputational damage, legal liabilities, and regulatory penalties. According to the latest report from IBM1, the average cost of a data breach globally is $4.35 million, an increase of 13% over the past two years. In the UK, the average cost is $4.82 million2, which is higher than the global average.

The report also reveals that the most common cause of data breaches is stolen or compromised credentials, which account for 83% of all attacks1.These attacks are often carried out by relatively unskilled individuals using widely available tools and techniques. They are the digital equivalent of a thief trying your front door to see if it’s unlocked.

Thankfully, there are ways to protect your organisation from these threats. One way is by obtaining a Cyber Essentials certificate. Cyber Essentials is a government-backed, industry-supported scheme that helps implement basic technical controls to guard against online threats. It covers five key areas of cyber security, including securing your internet connection, devices and software, data and services, protecting against malware, and keeping your software up to date.

By following these simple steps, you can reduce your vulnerability to cyber attacks by up to 80%. Obtaining a Cyber Essentials certificate can also demonstrate your commitment to cyber security to customers, suppliers, and stakeholders. It can even help you to bid for government contracts that involve handling sensitive information. Cyber Essentials is suitable for organisations of all sizes and sectors and is easy to apply for, costing from as little as £300.34.

You can find out more and apply for your Cyber Essentials certificate here

Don't delay - apply for your Cyber Essentials certificate today.


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