Cyberattacks Have Cost UK Businesses £44 Billion in the Last Five Years

London, November 25, 2024 – Cyberattacks have caused British businesses to lose an estimated £44 billion ($55.08 billion) in revenue over the past five years, according to a report by insurance broker Howden. The report, released on Monday, reveals that 52% of private sector companies have been victims of at least one cyberattack during this period.

On average, businesses lost 1.9% of their annual revenue to cyberattacks. Companies with revenues exceeding £100 million were found to be most at risk, with larger organizations more likely to suffer from these attacks. The findings highlight the growing threat of cybercrime and the significant financial impact on the UK business sector.(Reuters)