Despite repeated warnings, 52% of UK businesses, mostly SMEs, have experienced a cyber-attack in the past five years, losing £44bn in revenue, per Howden’s research. Vodafone Business found UK SMEs lose £3.4bn annually due to inadequate cybersecurity measures. Cybercriminals are increasingly exploiting AI to advance the spread and sophistication of attacks, while AI is expected to amplify the issue. The average cyber breach cost for SMEs in the UK is estimated at £8,460, excluding reputational harm and potential loss of business.
Identity Theft Surges as Criminals Deploy Advanced Tactics to Steal Personal Data
In 2024, identity theft surged, leading to over $16 billion in U.S. losses. Criminals exploit generative AI, deepfakes, and sophisticated phishing tactics, with synthetic identity
