Industry reaction to UK companies failing to tackle cyber security
September 2023 by Rob Otto, Field CTO & Principal Solutions Architect at Ping Identity
A new report by UK cybersecurity consultancy Savanti warns of increased cyberattack vulnerability among UK businesses due to inadequate cybersecurity measures. The global cost of cybercrime is projected to hit £8.4tn annually by 2025. The commentary by Rob Otto, Field CTO & Principal Solutions Architect at Ping Identity outlining essential measures to prevent cybersecurity breaches.
"The latest news of the cybersecurity threat to UK businesses may not be surprising but it is no less shocking to see the continued year-on-year rise of attacks. With targets ranging from large public sector to small start-up means every organisation must have an identity security strategy in place. Luckily, going back to basics can make all the difference.
"Multi-factor authentication, strong password protocols (better yet, going entirely passwordless), and dynamic authorisation are ways to strengthen organisation’s defences and stop hackers from getting through with stolen credentials or phishing scams.
These security layers not only protect financial assets and confidential data, but they also play a critical role in cultivating customer trust, which is especially important in a world where consumers seek secure digital experiences that don’t compromise convenience."