UK businesses face many different threats from theft and property damage to full blown cyber-attacks. We are immersed in an online world and our details are more vulnerable than ever before. We trust other companies with our details for example online banking and purchases, but are we doing everything we can to keep our business as safe as possible? We ensure our buildings and contents; its time do make sure our online presence is secure too. Looking at the most common forms of business crime is the starting point in planning your security strategy.
Cost to your Business and the Economy
According to the federation of Small Businesses (FSB) small businesses alone, suffer an average of almost 10,000 attacks in a day at an annual cost of £4.5 billion this doesn’t even cover traditional crime, such as, robbery and criminal damage which is a further £17 billion. Phishing attempts are the most common type of attack followed by malware and fraudulent payment requests. According to the Centre for Counter Fraud Studies (CCFS) estimate £130 billion annually is lost to fraud.
What can you do to protect your business?
GDPR has gone some way to reduce cyber security breaches, however, the government is still urging business leaders to do more to protect themselves. The National Cyber Security Centre recommends the following:
- Back up your data
- Keep smartphones and tablets safe
- Update and change passwords frequently
- Update anti-virus software
- Have clear policies on business and personal use on devices
- Report all attacks
It is impossible to completely eliminate the threat, but businesses can take measures to avoid attacks.
Making sure you report attacks to the police is essential to fighting cyber-crime. If your business has been attacked then it’s likely other businesses around you are also being attacked.
Tackling fraud before it happens
Many businesses learn the hard way and only tackle fraud once it has taken place and losses have already occurred. Reducing the risk should be treated as a business cost and ongoing reviews should be carried out to identify and manage potential areas of threat.
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