UK businesses have slashed their cyber security budgets by a third
Businesses in the UK have cut the amount of cash they are spending on cyber security despite the growing threat of attacks.
Budgets for security are a third of what they were this time last year, down to £3.9m on average, compared to £6.2m according to research from PwC.
The cost of attacks has fallen, however, down to £857,000 compared to £2.6m a year earlier. But the impact of attacks were felt more widely across the business in areas such as operations and data, while the ultimate cost can be hard to quantify.
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