UK businesses face new cyberattacks every 44 seconds in Q2 2024

Cyber Reports

Cyber Threat Report Q2 2024

UK businesses encountered a new cyberattack online every 44 seconds in the second quarter of 2024. Although most online attacks were detected and blocked at a network level or by company firewalls, there were five per cent more this year than in the same period of 2023, with companies connected to the internet encountering 180,714 attacks each, on average, between April and June.

The elevated levels of cyberattack activity experienced in the second quarter of 2024 extend a prolonged period of malicious online activity. The final three months of 2023 were the worst period ever for cyberattacks on UK businesses, with companies encountering a new attempt to breach their systems online every 40 seconds, on average. The first quarter of 2024 was the worst start to a year, with companies encountering 181,172 online attacks each, the equivalent of one every 43 seconds.

A survey of UK businesses, conducted for Beaming by researchers at Censuswide, indicated that more than 1.5 million firms fell victim to some form of cybercrime last year at a cost of more than £30.5 billion.

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Beaming identified 267,737 unique IP addresses involved in online attacks during the second quarter of 2024, and traced over a fifth (22 per cent) to locations in China. Significant levels of cyberattack activity also appeared to originate in the USA (nine per cent of attacking IP addresses), India (six per cent), as well as Russia and Brazil (three per cent each).

Devices connected to the Internet of Things (IoT) remained the primary targets, experiencing the highest volume of attacks. In Q2 2024, nine per cent of malicious web activities detected by Beaming, equating to 179 daily attacks, were directed at these IoT devices. Additionally, company databases and web applications faced more than 20 daily attacks from April to June 2024.

Sonia Blizzard, Managing Director of Beaming, said:  “The elevated levels of cyberattack activity we observed in the second quarter of 2024 continue a worrying trend of malicious online activity for UK businesses. These attacks don’t discriminate. Every company with an internet connection is in the firing line, and with attacks occurring every 44 seconds, the potential for significant harm is ever-present.

“It is imperative that businesses of all sizes take proactive measures to protect themselves. This includes implementing robust network security protocols, ensuring regular updates and patches to software, and educating employees on the latest cybersecurity threats. At Beaming, we are committed to helping businesses fortify their defences against these relentless attacks and safeguard their valuable data.”

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