Cybersecurity the biggest risk for businesses

In 2022, the consequences of the Ukraine-Russia war dominated cybersecurity news. There were attacks on critical infrastructure and corporations, leading to higher energy prices, monetary losses and a less robust supply chain. Overall, it highlighted the potential impact that cyber-attacks can have on the world. As such, as we head into 2023, businesses should take as much care as possible to limit their exposure to potential cyber-attacks. To emphasise the risk, a recent survey found that UK businesses are 85 per cent more likely to suffer a hack now than they were in 2019. Likewise, with insurers offering fewer cyber products and ransoms increasing, the potential for financial damage is greater than ever – making cyber the greatest risk that many companies face in 2023.