Businesses experienced 181k cyberattacks each in Q1 2024

Cyber Reports

Cyber Threat Report Q1 2024

UK companies encountered more than 181,000 online cyberattacks each, on average, in the first three months of 2024. This was the busiest start to a year for malicious online activity ever.

Businesses in the UK experienced 1,991 online attempts to breach their IT systems in the first quarter of 2024, one attack every 43 seconds. This attack rate was six per cent down on the 2,114 attacks per day recorded in the final quarter of 2023, the worst period ever for cyberattacks on UK businesses, but 5% more than the first three months of last year.

January was the worst month, with businesses receiving 2,140 attacks per day on average.

Beaming identified more than 265,000 individual IP addresses used to launch online attacks in the first quarter of and traced 23 per cent of them to locations in China. Beaming also identified significant cyberattack activity that appeared to originate in the USA (seven per cent of attacking IP addresses), India (five per cent), Russia and Brazil (both three per cent).

Remotely controlled devices connected to the Internet of Things continued to attract the highest volume of targeted attacks. Seven per cent of malicious web activity spotted by Beaming in Q1 2024, around 144 attacks per day, appeared to target these devices. Company databases, remote desktops and web applications also attracted more than 20 attacks daily in the first three months of 2024.

Cyberattacks on UK Businesses

Sonia Blizzard, Managing Director of Beaming, said: “Cyberattack levels remain critical. Commercial internet users must fortify their digital defences, including maintaining up-to-date firewalls and employing robust security measures to safeguard against evolving cyber threats.”

While most online cyberattacks are thwarted by company firewalls and other cybersecurity measures, the financial impact of cybercrime is substantial. A separate Beaming study estimates that 1.5 million UK businesses fell victim to some form of cybercrime in 2023, at a total cost of more than £30.5 billion.

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Beaming is an ISP and we work with businesses across the UK who trust us to keep their data safe and their systems secure. We don’t take that responsibility lightly. Contact us to find out more.

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Beaming’s Cyber Analysis Methodology

Beaming has analysed cyberattacks in real-time targeting thousands of UK-based businesses since the beginning of 2016 to understand their nature and origin better. From this, it can calculate the average number of attacks businesses receive and use the results of the analysis to help organisations improve their cyber security.