Company Wrecked by Ransomware Only Spent 120,000 Pounds Per Year on Cyber Security

Do you remember the story of the UK-based logistics company that closed due to ransomware and laid off 730 workers? Today in an article about a warning to UK businesses about cyber incidents, their “director” said they “were throwing £120,000 a year at [cyber-security] with insurance and systems and third-party managed systems.” That’s the cost of one cyber FTE, and it sounds like they didn’t…