Half of all UK companies experienced cybercrime in the past two years, survey reveals

Recent research by PwC has revealed that half of all UK companies have suffered financial losses due to economic crimes or fraud in the last two years, in line with the global average of 49 percent of all firms.

Economic crime and fraud not only cause financial losses to UK companies, but also damage their reputation, employee morale, and business relations.

Out of 146 UK companies who were surveyed by PwC as part of a global study, half of them suffered financial losses of £72,000 or more in the past couple of years. More worryingly, one in every four such firms lost £720,000 or more to cyber attacks in the same period.