Finance and insurance firms invested the most on cyber security to 2019, at an average of £22,050 – a 23% increase on the previous year.

This is according to figures from Specops, which show that businesses in health/social care/social work spent the second highest amount (£16,800) on cyber security – a staggering 506% rise on the year before

Firms in food and hospitality spent the least, at an average of just £1,080 – despite this, marking a 20% increase on the year before.

This year, 55% of UK firms have already faced a cyber attack and losses from breaches have accounted to an average £176,000, according to statistics from Hiscox.

One of the most prolific recent targets was the Labour Party – where hackers deployed two large-scale attacks across the political parties’ digital platforms.

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