Cyber attacks cost UK businesses £17 billion: Research

Posted On: Mar. 27, 2019 6:02 AM CST

Research found that cyber attacks cost U.K.-based companies £17 billion ($22 billion) in 2018 of which small businesses accounted for £13.6 billion or 80% of total losses, Computer Weekly reported. The research found that cyber attacks hit 63% of small businesses with the average cost totaling £65,000 in damaged assets, financial penalties, and business downtime.