Half (47%) of businesses reported an increase in the volume of state-sponsored cyberthreats over the past year, amid rising geopolitical tension and NCSC warnings.
In recent months, the UK was subject to a Chinese-backed cyberattack against the tech supplier of the Ministry of Defence, exposing the personal information of up to 270,000 servicemen and women, as well as veterans, including names, addresses and bank account details.
The findings were revealed in Absolute Security’s United Kingdom Cyber Resilience Report 2024, which surveyed 250 UK CISOs, via independent polling agency Censuswide.
Especially when it comes to ransomware, a staggering 69% of CISOs expressed that the financial repercussions of a successful attack could cripple their organisation.
While 62% are worried that they could lose their job if their organisation was hit by a major successful cyberattack.
Ransomware was considered to be the biggest threat to CISOs, with four out of five identifying ransomware as the most significant cyber concern their organisation faces today.
“The volume and sophistication of cyberattacks will only continue to rise and it’s no surprise to see organisations feeling the effects of state-sponsored threats and ransomware attacks,” said Andy Ward, VP International at Absolute Security. “It’s no longer enough for security leaders to try and prevent attacks, they need to be able to respond and recover when successful breaches happen.”