Almost half of Britain’s manufacturers have been a victim of cyber-crime over the last 12 months with over a quarter of respondents reporting a financial loss as the result of an attack.
As businesses adopt more digital technologies, the exposure to cyber security risks increases. Some 95% say cyber security measures are necessary for their company while two thirds said the importance of cyber security has increased in the last 12 months. However, worryingly, 54% decided not to take any further cyber security action despite the adoption of new technologies to boost production. The cost of the initial outlay on cyber security remained the main barrier for business along with the cost of maintaining systems.
UK manufacturers face a battery of cyber security risks, ranging from simple employee error through to complex targeted attacks. Our research found that production stoppages were the most common result of a cyber-attack (65%), with reputational damage ranking second (43%). Companies further revealed that new customers now want reassurance on details of the cyber security in place before signing contracts.