Insufficient cyber security is the greatest threat to UK companies, according to an EY survey.

The report found that 96% of UK businesses lack faith in their current cyber security systems.

A further 66% of the 1,900 Senior Executive’s surveyed globally reported around a five per cent increase in security incidents this year alone.

Related constraints are thought to contribute to the growing fear of cyber attack: 69% of respondents cited budgetary concerns, and 66% acknowledged a lack of skilled personnel in the field.

Mark Brown, Information Security Director at EY, says: ‘Organisations must undertake more proactive thinking, with tone-from-the-top support. Greater emphasis on improving employee awareness, increasing budgets and devoting more resources to innovating security solutions is needed.’

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