Poll finds which firms spend most - and least - on cyber security
New research has discovered which sectors in Britain are investing the most in protecting their digital assets - and which might be falling woefully short.
Specops Software used data from Gov.uk to analyse 1,091 firms across a range of sectors and see how their 2018-19 investment figures compared to those seen in 2017-18.
It was found that finance and insurance companies invested the most in cyber security, with an average of £22,050 and year-on-year growth of 23 per cent.
Health and social care also performed well, with an average of £16,800 spent on securing digital information.
At the other end of the scale, companies in food and hospitality were found to have invested just £1,080 in cyber security this year, although this was up from the £900 seen last year.
Specops Software spokesperson Darren James said businesses need to make cyber security a priority if they want to avoid being exposed to devastating cyber attacks.
"Education as well as governance for employees can play an essential role in protecting critical functions from being targeted and compromised," he added.
According to Hiscox, 55 per cent of UK firms have already faced a cyber attack this year, with losses amounting to an average of £176,000.