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.

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.