10
MAY
2016

Small Firms ‘Underinvesting’ in Cyber Security

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Experts have warned cyber attacks will increase and that small businesses must do more to protect themselves against losses.

Half of small manufacturers in the UK have failed to increase cyber security investment in the past two years, according to a survey.

Research by manufacturers’ organisation EEF found that 56% of businesses have not increased their spending. A fifth fail to make employees aware of cyber risks, while only 56% say cyber security is given serious attention by their board.

Just over a third, or 36% of manufacturers, have an incident response plan in place, and only 24% monitor cyber threats.

EEF Chief Economist Lee Hopley, is urging manufacturers to step up their planning to counter the increasing number of cyber threats.

“As technology and data start to play increasingly critical roles in manufacturing, companies will inevitably find themselves more vulnerable to cyber breaches,” said Mr Hopley.

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