The firm’s Belfast office this week hosted a launch event for the sixth annual cyber report, with representatives from the financial, energy, transport and housing sectors.

Technology clients comprised 28 per cent of all cases that were investigated by the firm’s cyber team in 2024, followed by finance — the sector that was singled out most by criminals the previous year — which accounted for 12 per cent of the total, the same proportion as transport and healthcare.

Nearly half of all incident-type cases (48 per cent) handled by the cyber team in Belfast and the rest of the UK in 2024 involved the use of ransomware. This is a common technique that uses malware to access sensitive information or personal data before encrypting it.

In a quarter of all incidents, cash demands were made by the threat actor group, with the single largest ransom demand in 2024 totalling $70 million (£55m) from BlackCat group. However, this was successfully negotiated down to $2.5 million (£2m) by the cyber team.

Laura Gillespie, partner at Pinsent Masons in Belfast, told the event: “What our annual report confirms is that criminals do not discriminate by country, business size, or business type.

“That is why – whatever sector an organisation happens to operate in – it must always be on its guard, and never become complacent with matters concerning cyber security.

“On-going investment in cyber defences has never been more important to help prevent, or minimise, the risk of ransomware-style attacks suffered by businesses.”

She added: “Against the backdrop of today’s digital landscape, every business needs to prioritise cybersecurity because it acts as the first line of defence against ransomware and phishing attacks.

“Ensuring staff training and awareness remains a key part of cyber awareness programmes is crucial. Protecting sensitive data and maintaining trust with customers and staff should not be an afterthought; it is essential for survival in an evolving online world.”