Dr. Guy Bunker, CTO at Clearswift, discusses the impact Brexit has had on attitudes towards cyber security spending.
In the Brexit era, political uncertainty offers an exceptional opportunity for cybercriminals to exploit the chaos permeating the UK.
For many employees, an element of confusion leads to a lack of confidence. And a combination of confusion and non-confidence is the ideal scenario for cybercriminals looking to gain access to critical data.
Hackers have been known to exploit uncertainty to breach private networks and steal customer data or even trade secrets. Once a malicious party has gained access to the system, they can then upload malicious code capable of performing any one of a plethora of criminal operations such as data theft or installing ransomware.
Our recent data, collected in collaboration with Vanson Bourne, reveals that 53% of UK enterprise organisations have increased their cyber security spending specifically to respond to these threats posed by Brexit.
However, it seems that in the event of a rise in cyber-attacks as a result of the UK leaving the EU, organisations will be prepared.
According to Clearswift’s data, the main cyber threats that organisations are preparing for are: Malware (49%), Phishing (40%) and Ransomware (40%). Still, all forms of cybercrime are expected to rise in the run-up to Brexit.
Although none of these threats are new in the cyber landscape, the current political turmoil has made them more widespread. So, how do hackers practically exploit Brexit uncertainty?
Also of interest: How will Brexit affect Cyber Security?