Cybercrime is a little known threat that is growing every year. In fact, every year in the UK it costs the economy over £308 billion ($443 billion) per year.
There is a common myth that cybercrime only affects large businesses, but this is not the case. In 2015, 75% of businesses reported being on the receiving end of a cyber security breach.
Surprisingly, cybercrime is now second only to Asset Misappropriation as the most common type of economic crime in the financial services industry.
A UK professional indemnity insurance broker recently published their research into cybercrime in the following infographic. This really emphasises the need for all businesses to gain cyber protection.