COST OF DATA BREACHES DOUBLES: UK GOVERNMENT

Information security breaches affecting UK business have decreased over the last year, however the cost of breaches has almost doubled, according to a report from the Department for Business, Innovation and Skills. The Information Security Breaches Survey 2014, carried out by PwC, found that 81% of large organisations suffered a security breach, down from 86% a year ago. 60% of small businesses reported a breach, down from 64% in 2013. While the number of breaches fell, the average cost has risen significantly for the third consecutive year, the report said. For small organisations the worst breaches cost between £65,000 and £115,000 on average and for large organisations between £600,000 and £1.15m. Andrew Miller, cyber security director at PwC, said: “Breaches are becoming more sophisticated and their impact more damaging.”