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Russia-linked cyber incidents have hit UK companies since 2022
A report estimates the UK faces a £2 billion to £2.5 billion annual cost from Russian hostile activity, including cyber attacks and resilience spending.
More than 300 Russia-linked cyber incidents have affected UK-headquartered companies since 2022, according to CyberCube data cited in a new report on the economic cost of Russian hostile activity against the UK.
The CyberCube findings also point to undercounting, as attribution can be difficult and businesses are said to under-report incidents.
The report, titled The Putin Tax: Estimating the Economic Cost of Russian Hostile Activity Against the United Kingdom, was published by Labour MP Graeme Downie with Dr Dominic Reed and describes itself as the first attempt to quantify the burden, covering cyber attacks, sabotage, and threats to critical infrastructure.
It estimates the activity costs the UK between £2 billion and £2.5 billion per year, with the authors stressing the figure is a floor rather than a definitive assessment due to data gaps and unquantified costs.