(Bloomberg) -- The majority of U.K. businesses are not equipped to deal with cyber attacks, which are increasing in frequency and severity, Chancellor of the Exchequer Philip Hammond will warn on Tuesday, calling on companies to work with the government to fight cyber crime.
While 65 percent of large companies reported a cyber breach or attack in the past year, nine out of 10 businesses don’t even have an incident management plan to deal with such an incident, Hammond will say as he attends the official opening of a new National Cyber Security Centre in London. The NCSC has already helped counter 188 attacks in the first three months of its existence.
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