Cost of cyberattacks in UK triples in a year

The cost of cybersecurity breaches against British businesses has tripled in the past year as attacks on valuable intellectual property and customer data accelerate. Some 87 percent of small businesses and 93 percent of large organizations experienced at least one kind of security breach in the past year, according to a report by the Department for Business, Innovation and Skills. The cost of security breaches to UK companies amounts to billions of pounds annually and has tripled over the past year, it says.