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Half of small manufacturers have not increased cyber security

Just over half of all small manufacturers in the UK have failed to increase cyber security investments in the past two years according to research carried out by EEF.

The survey by the manufacturers' organisation found that 56 per cent of businesses have not increased their spending. A fifth (19 per cent) failed to educate nor make employees fully aware of cyber risks, while just 56 per cent reported that serious attention is given to the threat of cyber crime.

When asked how they respond to crimes, the survey found that just over a third (36 per cent) had an incident response plan in place, and just 24 per cent actively monitor cyber threats.

The survey comes on the back of the government calling for industries to act in protecting themselves, while announcing plans to launch and National Cyber Security Centre in the autumn and pledging to spend £1.9 million over the next five years. According to the Department for Culture, Media and Sport, a quarter of large firms come under a cyber attack at least once a month and can cost up to £3.14 million for large companies and up to £311,000 for smaller companies, according to research carried out by EEF.

EEF chief economist Lee Hopley, on the back of the results, urged manufacturers to step up their planning to counter the increasing cyber threats. “As technology and data start to play increasingly critical roles in manufacturing, companies will inevitably find themselves more vulnerable to cyber breaches.

“Our survey highlights that investment in new technology isn't being matched by investment in managing risks, especially among smaller firms. It is important that manufacturers can identify, understand and put the correct strategies in place to keep their businesses safe and cyber secure."

Filed in: News

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