Small businesses also arguably have the most to lose from being hit with a damaging cyber-attack. A recent report revealed that businesses with less than 500 employees lose on average $2.5 million per attack.

ReaQta has been tracking an extensive and long running spear-phishing campaign, targeting the supply-chain in the Oil & Gas industry, most likely for espionage purposes. The campaign started in 2018 and it’s still running today, with a new wave began on the first week of May.

Around a quarter (23%) of small to medium sized enterprises (SMEs) believe that cyber insurance is not fit for purpose, according to joint research by insurer CFC Underwriting and Biba-accredited premium finance firm Premium Credit.