Company Wrecked by Ransomware Only Spent 120,000 Pounds Per Year on Cyber Security_TAOSECURITY:06C12A07289AE26B29F3A30AC2E64AF6

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    "lastseen": "2025-10-15T04:05:14",
    "description": "Do you remember the story of the UK-based logistics company that closed due to ransomware and laid off 730 workers? \n\n  \n\n\nToday in an article about a warning to UK businesses about cyber incidents, their \u201cdirector\u201d said they \u201cwere throwing \u00a3120,000 a year at [cyber-security] with insurance and systems and third-party managed systems.\u201d\n\n  \n\n\nThat\u2019s the cost of one cyber FTE, and it sounds like they didn\u2019t employ ANY cyber people. This is what I mean by the \u201csecurity 1%.\u201d \n\n  \n\n\nhttps://taosecurity.blogspot.com/2020/10/security-and-one-percent-thought.html\n\n  \n\n\nThis company was in the 99%, and intruders put them out of business, despite apparently having $100 million in annual revenue? \n\n  \n\n\nI never blame victims of intrusions, but the underinvestment in security is appalling.\n\n  \n\n\nRefs: https://www.bbc.com/news/articles/ced61xv967lo and https://www.northantstelegraph.co.uk/news/people/kettering-haulage-company-knights-of-old-group-goes-into-administration-with-730-redundancies-4349040# \n\nCopyright 2003-2020 Richard Bejtlich and TaoSecurity (taosecurity.blogspot.com and www.taosecurity.com)",
    "published": "2025-10-15T02:32:00",
    "modified": "2025-10-15T02:33:20",
    "type": "taosecurity",
    "title": "Company Wrecked by Ransomware Only Spent 120,000 Pounds Per Year on Cyber Security",
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